FAQ

General

What is EveryFin

First, EveryFin is a Swiss IT company governed by Swiss laws and regulations. Second, EveryFin is a platform that allows you to get started with crypto-currencies. EveryFin’s mission is to create trust in digital money by enabling access for everyone and making it simple to use. We want to aggregate use cases to make digital currencies truly useful in everyday life. With transparency and simplicity, EveryFin empowers you to take your own decisions about your money and your future.

Is this legal?

Yes. EveryFin and all of its partners are operating legally and observe all applicable laws and regulations. Regulations are still evolving, however, and we strive to keep up and adjust our operations accordingly.

Is there an EveryFin coin?

No, EveryFin does not have its own token or coin.

How do I log in to my EveryFin account?

If you have already created an account with EveryFin, click on Log In and enter your email address and password. If you have not yet created an account with EveryFin, please click on Sign Up and follow the steps explained during the sign-up process.

What is a wallet?

A wallet is like a bank account and the wallet address is like your bank account number. A wallet holds all your digital assets. Creating a wallet is free and lets you transact on the blockchain.

What is a private key?

Every wallet address has a private key. With a private key, any wallet address can be restored and unlocked. In other words, your private key is your ultimate access to your digital assets. Never share your private key with anyone. Never ever!

FAQ

Application

How do I log in to my EveryFin account?

How do I unlock my wallet?

Once you logged in to your EveryFin account, select Unlock Wallet and enter the password for your wallet. For safety reasons, this should be a different password to your EveryFin account password.

How do I transfer fiat money to my wallet?

Once you have created an EveryFin account and a wallet, select Transfers and chose to transfer fiat money either via credit card or directly from your bank account (via SEPA, wire, or similar). Please follow the steps to and provide some personal information. This is necessary due to globally applicable regulations for money transfers. Please note that there are also daily, monthly and annual maximum limits to convert fiat money into digital money. These limits can be adjusted up to the maximum if you provide additional information about yourself to the fiat gateway.

How do I transfer digital money back to my bank account?

Converting digital money back to fiat money is a feature that our fiat gateway is working on. It will be live soon.

How do I transfer digital money?

If you want to send digital money to someone, the easiest is to scan the QR code of their wallet. Otherwise, the recipient should send you the wallet address to which you should send the tokens. Copy the address into the Beneficiary field and follow the process steps on the screen. Please note that all transfers on the blockchain are final and cannot be revoked once submitted.

What are the operating hours for transferring and investing?

You can transact on the blockchain anytime, anyday. All services and markets are always open.

About

What is EveryFin

What types of fees are there?

Gateway Fee: This is the cost to transfer traditional currency to digital currency. So called Fiat Gateways are typically expensive due to the costs of compliance.
Network Fee: This is the cost to transact on the blockchain. Every transaction on the blockchain has a network fee, but it is typically very low.
Exchange Rate: This is the conversion rate between the (traditional) currency you convert and the (digital) currency you want to receive.
EveryFin Fee: EveryFin charges a flat USD 1 (or equivalent) for any transfers that happen on the EveryFin platform. Fiat on/off and your rewards carry no fee, only deposits, withdrawals, swaps and transfers out.

Is this legal?

How is my data protected?

First of all, you do not need to provide any information to EveryFin except your email address. Our partners, especially fiat gateways, will require your personal information and possibly a copy of your ID and more. This is required by law, when transferring fiat money. Second, your data is encrypted and stored in the cloud. Our cloud service provider ensures that the data is safe and acts according to best security practices.

Is my data private?

No. While EveryFin does not share any user data with anyone ever, all your transactions are stored on the blockchain, which is a public ledger and accessible by anyone. However, your name cannot be easily associated with your wallet address, so there is a degree of anonymity. We recommend setting up several wallets, for example one for transfers and one for savings.

Is this sustainable?

There has been much debate about the ecological footprint of blockchains. While proof of work blockchains, like Bitcoin, require substantial electricity to operate, a lot of effort goes into greening of energy sources. With proof of stake blockchains, like Avalanche or Ethereum, the energy requirements are minimal and have a negligible, non-material impact on the environment.

Is there an EveryFin coin?

No, EveryFin does not have its own token or coin.

Support

What is a wallet?

A wallet is like a bank account and the wallet address is like your bank account number. A wallet holds all your digital assets. Creating a wallet is free and lets you transact on the blockchain.

What is MetaMask?

MetaMask is the most used wallet. Visit their website www.metamask.io for more information.

What is a private key?

What is a seed phrase?

For convenience reasons, a private key may be encrypted and stored in your wallet extension. The seed phrase is the key to decrypt your private key. With the seed phrase, a wallet address can be restored and unlocked. In other words, your private key is your ultimate access to your digital assets. Never share your seed phrase with anyone. Never ever!

What happens if I lose my seed phrase?

If you lose your seed phrase, you lose your ability to restore your wallet address and all its contents. In other words, your digital assets will be lost for ever.

Where should I store my private key or seed phrase?

It is best to store them offline. Your private key can be printed out as a QR code and your seed phrase can be printed or written down on a piece of paper. There are more elaborate, durable options, such as engraving them in wood or metal. In any case, put them in a place to which only you have access to, such as a safe. Ideally, you have two safe places so you can store them in two places. Do not store your private key or seed phrase in the cloud, as a text message on your phone, as an email or in an excel file. Also don’t put them on a sticky note around your laptop.

What happens to my wallet if I lose my laptop or mobile phone?

You can restore your wallet from your private key or your seed phrase. Your digital money is stored on the blockchain, not on your mobile phone or laptop.

Can I get hacked?

Yes. Don’t trust anyone. If in doubt, do not click on any links or buttons. A single click can spell disaster. Be careful at all times.