Personal Waves Wallet security
The WAVES Platform wallet consists of complex cryptographic operations that use a SEED (a series of random words) to create a unique address for your account.
This SEED is extremely important and must be kept in safe place, since it’s the only way to recover your account in case of lost, corrupted data or hardware failure.
Your SEED will also allow you to IMPORT your account to other devices (therefore, allow no one to reach it).
Waves Platform blockchain and DEX security
Stop worrying about the safety of your assets
By trading on a centralised exchange, you risk losing your funds in the event of a hack, which has happened on almost all popular exchanges.
The main advantage of our exchange is that funds are always stored in your wallet, and the matching process simply pairs orders.
You retain complete control over your funds when trading them on our decentralised exchange.
The DEX is powered by a matcher, which stores user orders and sends token exchange transactions for fulfilled orders. All final settlement is carried out on the blockchain for security.
All transactions happen on the blockchain, and only the order list is held on the centralised matcher. This allows us to take full advantage of both centralised and decentralised technologies. In addition, implementing the latest developments has allowed us to increase network capacity to hundreds of transactions per second.
Your orders are transferred to the matcher over an encrypted channel and are not visible to other participants until the moment of execution. This excludes the possibility of unscrupulous traders manipulating information about an upcoming trade.
At WAX we take the utmost care to ensure your account is safe. One of the steps we take to ensure this is by not holding any of your crypto assets. You alone have access to your private keys and the ability to send or receive tokens on the WAVES blockchain.
Your personal information is used for verification purposes only to comply with KYC policies. Your private information is strictly confidential and will not be shared with third parties for marketing purposes.
Please note that you need to ensure the safety of your login details to make sure no unauthorised persons access your account. We also lock your private information such as banking details and waves wallet id to prevent tampering. Any changes to your personal details will require you to go through the verification process again. Please contact support if you need to make any changes to your personal banking or wallet id details by creating a support ticket on the WAX Forum