How does Firi store and secure cryptocurrencies?
We store customer funds both in hot storage and cold storage. Hot storage means that the cryptocurrency is stored on a device connected to the internet. Here we store the smallest amount of the funds as possible, but enough to make sure that customers can make withdrawals. Our "hot wallets” run on our own server, and are only accessed by authorized employees.
We store most of the customer funds in cold storage at all times, meaning that it is not available from the internet. For this, we use what we believe is the most secure alternative available on the market, namely Ledger Vault. To extract cryptocurrency from this wallet, signatures are required on a physical hardware device from x number of different people in several different locations. This type of wallet is called a "multisignature wallet".
How can my next of kin access my funds if something should happen to me?
First, we recommend letting relatives know that you have invested in cryptocurrency and what platform you use to store it.
Should such a situation where next of kin need access to your account arise, we ask relatives to contact us in our chat or e-mail email@example.com