Does Oxis have control of my funds?
The answer is no. Oxis does not have control of or access to your funds.
We are a decentralized service in the cloud, which gives you control of your private key when you create an account with us.
Oxis is not a cryptocurrency exchange, nor a bank or a stock market. It is a web and/or smartphone application that allows you to manage your cryptocurrencies in a safe and comfortable manner.
With Oxis, you are your own bank: the funds you manage with us will always be yours. Unlike a bank or a centralized exchange, with Oxis you don't have to ask for someone else's permission to be able to use your assets.
If you manage your cryptocurrencies through our platform, you don't have to worry about trusting a third party to keep your funds. That being said, this means that all responsibility for your funds is yours.
So, theoretically, we couldn't help you if you lose your private key.
But don't worry, we are a non-custodial wallet whose main premise is your safety. Therefore, we provide you with a password that will protect your private key and three security questions that will help you recover your password (but be careful! If you lose your password and your 3 answers, there will be no way you can recover your funds).
However, it does not mean that you are giving us control: we integrate two-factor verification, SHA-256, and BCrypt encryption, as well as IPFS storage to help protect your private key without the need for us to know your password or your security responses.
At Oxis, we leave the decisions about the management of your private key to be yours alone.
Can the Oxis Team Control or Access My Account?
Just as the Oxis team does not have access to your private key and therefore to your funds, we cannot control your account either.
At the time of registering in Oxis, we only ask you to indicate your email so that you can manage your account in a simple, more familiar way. We do not need you to provide us with your personal information or to comply with KYC/AML processes, as would happen with a custodial service or centralized exchange.
Similarly, your password, which encrypts your private key, and the three security questions that give you access to your password, belong to you, not us. Therefore, not only the control of your account is your responsibility, also never forgetting the means of access to it is.
Does Oxis Link My Transaction Information to My Identity?
In Oxis we use the information that is publicly displayed on the blockchain of the cryptocurrencies that we support. With this, we build a history of the transactions carried out with your public key.
We do not want to know your identity; our premise is that you can carry out your transactions safely and comfortably with us. Part of that convenience, we think, is keeping your identity away from the transactions you carry out with us.
So calm down, unlike cryptocurrency exchanges:
How is Oxis Different From Traditional Services?
The most popular cryptocurrency exchanges or wallets are managed between two poles: maintain full control of your private key or not do it at all. Both scenarios have advantages and disadvantages that you can consult here.
However, in Oxis we found that polarization limiting, so we decided to combine the best of both worlds.
Therefore, you can create an account with us very comfortably with your email, generate a private key that will be your total responsibility, and protect it with a password and three security answers that will help you recover it at any time.
As we do not know who you are and it is not our desire to know your identity, you do not have to submit to KYC or AML processes that result in the freezing of your account.
With Oxis, the cryptocurrencies are yours and nobody else's.