Question 1

What is Shakesco?

Accepted Answer

Shakesco is a wallet that lets you use Bitcoin and Ethereum for everyday payments. It's built to feel like a Swiss bank in your pocket, giving you secure, private control over your money.

Question 2

Which assets are offered by Shakesco?

Accepted Answer

Currently, we offer Bitcoin, Ethereum, USDT, and Lightning.

Question 3

What is MPC?

Accepted Answer

MPC stands for Multi-Party Computation. In Shakesco, MPC enhances the security of your assets by eliminating the single point of failure common in other wallets. Currently, Shakesco has zero wallets compromised due to the use of MPC.

Question 4

Can I send stablecoins on Shakesco?

Accepted Answer

Yes. Shakesco supports Tether USDT as the settlement stablecoin. You can also send other stablecoins using Magic Send, which handles the swap and transfer for you.

Question 5

What are Shakesco Card and Shakesco Auto?

Accepted Answer

Think of Shakesco Card as your Visa card but operating on the Ethereum network. Shakesco Auto allows you to receive recurring payments from friends and family or payroll from your company without any action required on their part.

Question 6

How do I switch between personal and business wallets?

Accepted Answer

You can switch between personal and business wallets from the bottom navigation. Press and hold your profile icon to switch to the business wallet, and press and hold the business icon to switch back.

Question 7

How do I send crypto?

Accepted Answer

Open the app, tap Send in the Transact tab, choose the asset you want to send, enter the recipient's address or scan their QR code, set the amount, and confirm. You'll see a notification as the transaction is being processed.

Question 8

How do I receive crypto from others?

Accepted Answer

You can receive crypto in two ways: by link or by asset address. If you have a username, tapping Receive in the Transact tab will generate a payment link. To receive a specific asset, go to Wallet Balance, select the asset, tap Receive, and share the details.

Question 9

How to buy and sell crypto?

Accepted Answer

We've partnered with multiple providers including Onramper to offer over 130 payment methods. Tap 'Buy' in your wallet, select your preferred payment method and provider, enter the amount, and follow the prompts to complete your purchase. The same process applies for selling.

Question 10

Where is my private key?

Accepted Answer

Your private key is split into multiple encrypted shares. One share is stored securely on your device, and another is stored remotely. This setup keeps your wallet secure while allowing recovery if you change or lose your device.

Question 11

How do I back up my wallet?

Accepted Answer

Go to Settings, select Backup, then choose whether to back up using Google Drive or Apple iCloud. This backup is required to recover your wallet on a new device.

Question 12

What if I didn't back up my wallet?

Accepted Answer

If you did not create a backup, you will lose access to your wallet. Shakesco cannot recover it for you, as we do not have access to your private key.

Question 13

What is the Lightning Network?

Accepted Answer

The Lightning Network is a technology built on top of Bitcoin, referred to as Layer 2, enabling transactions to be conducted off-chain. This reduces transaction costs and speeds, allowing for faster, cheaper transactions that settle later on-chain.

Question 14

What are silent payments?

Accepted Answer

Silent payments enable you to receive Bitcoin privately. With a static address that starts with 'sp', you can receive payments to a new address each time someone sends you Bitcoin.

Question 15

What is a Smart Wallet?

Accepted Answer

A smart wallet is an enhanced version of an account on the Ethereum network, improving account management. With your Shakesco smart wallet, you can perform recurring payments, private transactions, split payments, group transactions, and much more, all without needing multiple platforms associated with traditional wallets.

Question 16

Can I send private transactions on Ethereum?

Accepted Answer

Yes! Sending and receiving private transactions on Ethereum, which masks your transaction from the public, is available on Shakesco. Enjoy cash payments over the internet.

Question 17

How do I pay fees without ETH?

Accepted Answer

If you don't have ETH, you can pay transaction fees using USDT. Shakesco uses a paymaster to cover the gas, so you can complete transactions without holding ETH.

Question 18

What is Magic Send?

Accepted Answer

Magic Send lets you send assets across different blockchains in a single transaction. You choose the network and token you want to send, enter the recipient and amount, and Shakesco handles the swap and bridge for you.

Question 19

How do private transactions work?

Accepted Answer

Private transactions use one-time addresses so payments cannot be linked to your public wallet address. Each time someone sends you a private payment, Shakesco generates a unique address for that payment. Only you can detect and access the funds, while outside observers cannot tell who the payment was sent to.

Question 20

What are spend and view keys?

Accepted Answer

Spend and view keys are special cryptographic keys used to protect your privacy. The view key is used to detect incoming private payments, while the spend key is used to access the funds. These keys are securely generated and stored on your device and are never shared.

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