Liminal Hot Wallet Crypto – A Seamless User Experience, with Robust Security
Make deposits and withdrawals safe, cost-effective, and secure
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Smart MPC and Multisig Deposit and Withdrawal Hot Wallets
Pick the right wallet setup that perfectly matches the assets and your requirements.
Multiple Wallet Options
Choose between multiple hot wallet types – Multisig and MPC wallets for your withdrawal and deposit hot wallets depending upon the asset that needs to be secured. MPC wallets are ideal for EVM chains while multisig takes care of the rest.
Transaction Fee Savings
Pay the least possible gas fees for uninterrupted transactions with Liminal Gas Saver. Automated transaction consolidation and spray function to help further optimize transaction fee allocation
Auto Sweep and Refills
Minimize risk exposure by utilizing automatic sweep and refill functions to limit the amount of funds in cold and hot wallets at any time.
Top-notch Key Management
Your hot wallets’ private keys are never at risk as the keys and shards are distributed between you and Liminal, with handy recovery options if need arises. Hot wallet access is only possible through Liminal API/SDK.
Hot Wallets Aren’t Vulnerable Anymore
Addressing Hot Wallet Vulnerabilities
Considered the weakest link in an enterprise wallet infrastructure, hot wallets are needed to ensure their private keys are always online to affect immediate withdrawals and deposits which makes them vulnerable to external threats. A combination of best practices and inclusion of redundancies to prevent single points of failure can easily mitigate the risk to a great extent.
- Multi-step transaction authorization process
- Distribution of keys across organizations
- Maintain minimum balance in hot wallets at all times
Securing Hot Wallets with Liminal
Liminal offers either 2 of 4 multisig or 2 of 2 shard MPC hot wallet type where one of the keys/shards are controlled by Liminal Signer. Secured by a HSM and accessible only through Liminal API or SDK, the keys always remain protected. Meanwhile, smart auto sweep and refill functionalities always ensures limited fund availability with possibility of immediate replenishment based on demand.
- Multisig and MPC Hot wallets
- Keys shared between the Client and Liminal Signer
- Automatic hot wallet holdings management in line with best practices.
Uninterrupted Transactions with Best Practices
A great user experience also includes flawless, uninterrupted access to products and services, which happens to be crypto assets in our context. Automating withdrawal hot wallet operations backed by smart refill helps maintain minimum required balance while sweep function keeps emptying deposit hot wallets by transferring accumulated funds to cold storage or warm wallets.
- Automated withdrawals from hot wallets upon verification of address
- Auto sweep in algorithm to move funds from hot deposit wallets to preapproved wallets
- Compatible with smart refill, reduces dependencies on human intervention at each step
Optimized Transaction Fee Management
Liminal Hot Wallet infrastructure benefits from Liminal Gas Station, UTXO consolidation and Spray function for efficient management of funds towards transaction fees. Liminal Gas Station, with the help of intelligent algorithms decides minimal fee for successful transaction execution while Spray function ensures availability of sufficient protocol token balance towards transaction fees.
- Pay least possible gas fees for guaranteed transaction settlement
- Spray function prevents scattering of funds across wallets for transaction fee payments
- Consolidation of multiple UTXOs to single transaction for reduced fees
We have simple and robust client SDKs and other assets in place to help you integrate our digital asset wallets with your application, read out extensive documentation for more information. Contact us if you need more help.
How do I choose a hot wallet?
When choosing a hot wallet, consider factors like security features, reputation, user experience, supported cryptocurrencies, community reviews, and development team transparency. Ensure the wallet provider has a strong track record, offers regular updates, provides backup options, and has a responsive customer support system.
How do I set up a crypto hot wallet?
To set up a crypto hot wallet, you typically need to follow these steps: Choose a reputable hot wallet provider. Download the crypto-wallet app from their official website or app store or play store. Create a new crypto-wallet and securely store your recovery phrase. Set a strong password and enable all the necessary security features. Generate a receiving address and start managing your cryptocurrencies within the hot wallet.
Is hot wallet centralized?
Hot wallets can be centralized or decentralized, depending on the specific implementation. Some hot wallets are provided by centralized exchanges or platforms, where a central entity controls the private keys. However, decentralised hot wallets allow you to retain full control over your private keys, providing a more decentralized approach to wallet management.
What is hot vs warm wallet?
The key difference between warm wallets and hot wallets is their enhanced security measures and robust access controls. In the context of cryptocurrency wallets, a hot wallet refers to a wallet that is connected to the internet and readily accessible for transactions. In contrast, a warm wallet typically refers to a partially connected wallet to the internet, combining some offline security measures while still allowing for faster transaction processing.
Is self-custody hot wallet hard to manage?
Self-custody hot wallets such as Liminal crypto-wallets are relatively straightforward to manage, especially with user-friendly interfaces and intuitive features. However, they do require responsible key management and security practices, such as securely storing and backing up private keys. While it may require some initial setup and familiarity, proper management ensures control and security over your funds.
Can I move funds from hot wallet to cold wallet?
Yes, you can transfer funds from a hot wallet to a cold wallet. This involves generating a receiving address on the cold wallet and initiating a transfer from the hot wallet to that address. It’s important to ensure that you input the correct address to avoid any loss of funds during the transfer process.
Does hot wallet support multi-sig or mpc technology?
Hot wallets support both multi-signature (multi-sig) and multi-party computation (MPC) technology. It depends on the specific wallet implementation. These advanced security features enhance protection by requiring multiple approvals or utilizing distributed key management.