How do I buy Bitcoin or Ethereum?
You can buy bitcoin via online exchanges or in person at cryptocurrency ATMs. We have outlined instructions on both of these here.
My Ethereum balance randomly adjusted by a small amount?
If you previously sent a larger amount of Ethereum to a recipient, there may have been a Coincast fee associated with the transaction. This Coincast fee is processed independently from your main transaction on the Ethereum blockchain and can sometimes be processed later on. You are likely experiencing the network fees associated with the Coincast fee being deducted from your account balance later on as the Coincast fee transaction was processed later on.
Does Coincast have access to my funds?
No. Your funds are stored on your wallet which is generated locally on your device and generated from scratch using your secret PIN. We store, on our servers, an encrypted portion of your private key, which in conjunction with your PIN and transfer code can be used to brute force your actual private key, but any one of these components alone is not enough for anyone (including us) to generate your private key, and thus, access your funds. As long as you keep your PIN secure, you will be the only one who can theoretically access your funds. Coincast staff will never ask for your PIN.
What if my question is not covered here?
What if I forget my PIN?
If you forget your PIN, it will be impossible to regenerate your private key and thus your funds are lost with the exception of some qualifying accounts that have opted into presigning. Though we do not have access to your funds, we do allow some users with larger balances to opt in/out of a feature called 'presigning'. If opted in, we will prompt you to 'secure your funds via 'presigning', when this occurs the app will generate a signed transaction to transfer your wallet balance to our cold storage. This transaction is not broadcast on the blockchain and is instead encrypted and stored on our servers, should the need arise we will confirm your identity and may broadcast this pre-signed transaction to help recover your funds in the event of PIN loss. Presigning does not happen for all users by default and you can opt in/out of it at any time from the 'your account' page. Learn more about presigning here.
Did Coincast Support ask for my PIN or Private Key or Transfer Code?
No. We will NEVER ask for these nor should you give them to ANYONE. If anyone has access to these values they can potentially crack your private key and irreversibly/instantly steal your funds, forever. If any person or website is asking you for these values, you are being scammed. Only ever enter these values in the official Coincast app.
Where does my cryptocurrency actually reside?
Your cryptocurrency is controlled fully by you. Our app generates a crypto wallet for you to use which holds your funds. We do not have access to this wallet and it is re-generated in the app, via your PIN and other complex computations, when you need it, and then it is erased from memory after you are done using it. You have full custody of your cryptocurrency—it never passes through Coincast's possession. If Coincast ceased existing, though the app would stop working, you will still have full access and control to your cryptocurrency through the private keys, which is why we recommend all users write down their private keys and store them somewhere safe, secure, and fireproof. Your private keys can be used to access your cryptocurrency using general crypto software, without the use of the Coincast app. Do not ever share them, or your funds may be stolen.