What is Mutual Wallet?
Mutual Wallet is a wallet that has mutual management and control of the assets, its characteristics are: Assets mutually managed, Transactions mutually reviewed, Bills mutually shared.
In brief, Mutual Wallet is a wallet that allows multiple people to manage, on the basis of verified identity, payment password, and facial recognition, in order to ensure the safety of the assets. Mutual Wallet provides our customers a safer and more convenient mutual financial management service.
Authorization process of Mutual Wallet
Whenever a mutual manager submit or authorize a transaction, it requires payment password and living-body facial recognition. After the preset authorization number is met, the transaction shall be approved.
*After the Mutual Wallet is created, the total number of mutual managers and required authorization shall not be changed.
Scenarios in Use
3.1 Couples/Friends’ mutual assets
If a couple has a certain amount of mutual crypto assets, it is recommended to use 2-2 authorization methods in the Mutual Wallet, so that any transaction should be authorized by both of them to be approved. In such way, it not only can ensure the safety of the mutual assets, but also can save money in some circumstances.
3.2 Mutual Assets of Partnerships
If a partnership requires to transfer large amounts of money on a daily basis, it is recommended to use 3-5 authorization methods in the Mutual Wallet, so that only if three of the mutual managers all authorize the payments, the assets from the Mutual Wallet can then transfer. It is a great way to make partnership’s mutual asset transparent in the team, as well as safely keep the assets.
3.3 Financial control in Small- or middle-size companies
As a company, the separation of duty is the best way to manage and control the company’s assets. If a company uses 5-7 authorization methods in the Mutual Wallet, it not only can make the financial records transparent, but also eliminates unnecessary procedures to maximize the efficiency.
4.Advantages of Mutual Wallet
1.Safety: Facial recognition and personal password to ensure the safety of your assets.
2.Convenience: Various methods of authorization to choose, manage your assets online through a simple click.
3.Transparency: Mutual assets, bills, and authorization records are transparent and open to all mutual managers.
4.Five Crypto Currencies: Support BTC, ETH, USDT, EOS, and ETC to be mutually managed.