How it works

The CoinBight service is designed to be as simple and straightforward as possible for the user. Despite this, we want to describe the general provisions and principles of the service.


What is CoinBight for? The answer is fairly simple. Nowadays, the popularity of cryptocurrencies has become so high that you can hardly find a person who has not heard about them. The number of cryptocurrency users is also growing inexorably, and for many of them, the question arises - how and where is it better to store cryptocurrency, how to use it, how not to worry about security, and so on. Also, many companies and individual developers are constantly looking for convenient and fast ways to integrate their projects with cryptocurrency blockchain networks. It is for these purposes that CoinBight was created – a service for storing and using digital currencies, as well as for integrating your applications and websites with cryptocurrency networks.


Let's briefly describe the fundamental steps for two main goals.


1. What needs to be done to create a wallet and manage a digital asset?


1.1. Register.

By registering on CoinBight.com, you create a user account. Your account credentials are your email address and password specified during registration. This procedure is standard, and will not cause you any difficulties. After registration, you will be able to sign in your personal account, created to manage everything related to wallets and transactions. You can register at the link: https://coinbight.com/registration


1.2. Connect a device with two-factor authentication.

When entering your personal account for the first time, you will see a form for connecting two-factor authentication. Connecting this function means setting an additional level of protection for access to your personal account. Since the security of the user's personal data and digital assets is extremely important, this procedure is mandatory. It allows you to bind your account to your mobile device under Android or iOS and will make it impossible to sign in your account for hackers.


1.3. Create a wallet.

After authorizing on the site, you will be redirected to your personal account, namely, to the control panel for your wallets. Click on the “Create wallet” button and pass the simple process of wallet creation. Choose a cryptocurrency, specify a wallet name and create a unique password (or use a common account password). Further, CoinBight will do all the work for you – it will generate a completely new wallet of the selected cryptocurrency, encrypt it and monitor the security.


1.4. Activate your wallet.

During creating a wallet, an email with an activation code will be sent to your account address, and a pdf file containing the wallet's activation code and some information with encrypted keys that you may need to restore access (if necessary) will be attached to the email. Download this file, print it on paper, delete the letter and delete the PDF document from your computer (or mobile device) for security reasons. Enter the activation code in the proposed field and activate the wallet to get started.


1.5. Replenish your wallet.

To replenish your wallet, go to its settings and generate an address. The system itself can generate the first address, but their total number for some cryptocurrencies can be arbitrarily large. Create as many addresses as you need. You can replenish your wallet in any way you can – by creating a transaction to any address of your wallet.


1.6. Administer your wallet.

We have developed several mechanisms to protect your wallet. First, it is possible to create a unique password for each wallet, without which no one can create an outgoing transaction in your personal account. Secondly, the ability to temporarily “freeze” the wallet, thereby making it impossible to create transactions for the selected period of time. Third, it is possible to limit the maximum amount of cryptocurrency to send from the wallet (within one transaction, per hour or per day). All available security settings can be found by clicking on your wallet in the corresponding section.


1.7. Create payments (transactions).

Now you have a cryptocurrency wallet with funds that you can dispose of at your own discretion. Sending funds from your personal account is as simple and clear as possible. Just enter the address, amount of cryptocurrency, confirm the operation with a security password and two-factor authentication code, and CoinBight will create a transaction and send it to the corresponding blockchain network.


2. What should I do to integrate my wallet with my website or application?


This information is intended for the developers.


2.1. Review the API documentation.

The documentation can be found at https://coinbight.com/api. This section contains all the information about the API interface features, available methods, parameters, connection and authorization, as well as examples of server responses, and so on.


2.2. Create an API Key.

Go to your personal account and sign in to the “Profile”/“API Keys” section. The procedure for creating a key is also simple and will not take you much time. The generated key will be displayed once in your personal account and sent to your account's email address. Make sure to save it in a safe place, because for safety reasons, CoinBight will no longer show you this key. All keys are stored only in encrypted form on the CoinBight servers, therefore, preservation of its backup copy in security falls on you.


2.3. Integrate your wallets with your application.

Based on the above documentation, you can manage your wallets using the API – create addresses, receive a transaction list for each wallet, validate addresses, send digital assets to one or more addresses, and so on.


This description is very generalized and brief and was created for a general understanding of the service's operation principle. If you have questions regarding any aspect of CoinBight, you can always contact technical support via any of the communication channels suggested in the Contacts section: https://coinbight.com/contacts.