As its name suggests, self-custody restricts access to assets to one user. The wallet cannot be shared by multiple users.
Using Klever Kustody, more than one person can manage a wallet, i.e., sharing is now possible. Klever Kustody provides a range of features that make your crypto assets safer, manageable, and controlled.
The user has more flexibility with failsafe security measures that carry out transactions and allow for the processing of transactions when all security measures are met.
Klever hosts your wallets, but your private keys remain in your hands. Protect them!
In order to manage wallets, we created profiles. Klever ID allows users to log into Klever Kustody via their Klever Exchange username and password. This seamless and secure feature enables easy management and secure access to Klever Kustody, which includes our standard security features such as OTP and 2FA.
Klever Kustody offers a more customized and secure experience that draws our attention to more important features.
- Wallet Administrators are the most important users. They approve actions and transactions. For example: When a policy is modified by a user, it will not be implemented until all administrators approve it.
- Spenders: Those only capable of sending and receiving transactions.
- Viewers: As the name implies, they can only view wallet information and transactional data.
Managing your crypto wallets with Klever Kustody
Klever Kustody’s new interface allows you either to create a wallet or join a group of owners to an existing wallet using the import feature. Available policies include a number of approvals, transactions limits, and freezing periods.
Let’s dive in for more clarity:
Klever Kustody Admin Approvals:
You can define how many users must approve a transaction. For wallets with multiple users, we added an additional layer of security. To process a transaction, admin users can specify the number of other admin users who need to approve it. Transactions are blocked until the required number of approvals is received.
Transactions are the sole focus of this minimum approvers policy.
Klever Kustody Spending Limits:
The wallet also allows you to set the amount that can be spent. This amount can either be configured per transaction or per hour (per hour or per day). A currency limit will always be set based on the currency that was selected by the user who set the limit. If you select EUR as your Kustody currency and set the Wallet Spending Limits, the limits will be set in EUR.
Klever Kustody Freezing Time:
The wallet may need to be blocked for a period of time for security reasons. This can be achieved by using the Freeze feature. With the calendar, you can choose a period during which the wallet should not be available for signing transactions. A wallet that has been frozen cannot be unfrozen before the end of the period.
Transact with Klever Kustody
The intuitive custody platform takes it a step future by introducing transaction-based features. With Klever Kustody, not only can you store assets, but you can also send and receive coins. With just a few clicks, your coins can be purchased or sent.
A wallet may have more than one admin user, so each of them has to approve all new transactions. If the transaction is not approved by all admin users, it will not be processed.
To summarize, our new Klever Kustody interface grants you access to the following features:
- Create a wallet
- Change settings
- Manage the active policies
- Recover your wallet
- Invite users
- Accept an invitation
- Manage wallet tokens
- Sending crypto
- Receiving crypto
- Approving transactions
- Transaction history and visualizations
Watch this tutorial to better understand Klever Kustody: