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Crypto / Wallet Authentication

  • Crypto users value their privacy, but anonymity makes support difficult
  • Anonymous thieves who take over crypto wallets send stolen funds to irretrievable locations
  • authID protects the wallets themselves and the privacy crypto users crave

 

Home » Use Cases » Crypto / Wallet Authentication

Bad crypto wallet authentication costs tens of millions. Are you protected with biometrics?

The crypto market from its earliest days was associated with illicit trading and untraceable transactions, along with the assumed risks. But now that it has gone mainstream, there is a completely different expectation in terms of security and identity assertion. But as scarily complex as wallets themselves can appear to newbies, the access to wallets can be as mundane as found in any other platform. Given low interest rates and portability, consumers are locking up just as much wealth in crypto wallets as in banks, creating a honey pot for digital thieves.

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The Crypto / Wallet Authentication Solution

Another traditionally difficult aspect of establishing identity in the world is the presentation of identity documents such as drivers license and passport. This process has long been difficult for consumers, and surprisingly a bare minimum approach. Crypto users are already accustomed to providing physical IDs (most commonly passports) but these documents are usually subject to lengthy, error-prone manual review.

authID provides powerful authentication for asserting ownership of crypto wallets, first by creating a firm foundation of identity, validating ID documents and self-images, then matching the two definitively. Going forward, wallet owners can securely access their funds while locking out pretenders. Crypto practitioners are also commonly very privacy-minded, making authID the perfect solution. We have options for storing only the user’s biometric hash, and when necessary not even that. authID has the ability to employ a PKI structure in which the platform stores only a public key, with the private key recreated with each authentication request for a secure match, using facial biometrics, then promptly destroyed. Privacy, security, and assurance for the crypto ecosystem, only from authID.

authID Vertical - Financial Services

Financial Services

authID Vertical - Payments

Payments

authID Vertical - Crypto Exchanges

Crypto Exchanges

Speed & Accuracy

Biometrics and liveness detection are irrefutable in determining proof of life, and when correlated with a physical ID, can authenticate users remotely and securely.

vs. 7 Seconds — 10x Faster Authentication Time

1 in 1 Billion

False Match Rate Accuracy

Zero

Biometrics Stored — Supports Global Compliance With Our New No-Biometric Storage Solution

Test Our Crypto / Wallet Authentication Solution With True Biometric Identity Proofing

authID Use Case - Verticals - Industries Install Steps

Step 1

Set up a quick biometric demo or free trial in minutes.

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Step 2

Test API calls, user experience, and the admin portal in the cloud or on-premise.

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Step 3

Finalize your testing and agreement to go live.

authID Has Verified Over 1 Million Identities

The authID biometric verification stack is used by millions of users at some of the top fintech, financial services, medical and hospitality companies.

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At ABM we are focused at elevating the client and team member experience through technology and data. We selected authID for its combination of security, seamless user experience, shared device support, and cost-effective delivery. Their innovative biometric authentication solutions offer the ultimate in passwordless security, accuracy, and speed.

Stephanie Franklin-Thomas, CISO

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According to IBM Cost of a Data Breach Report - 2023

The average data breach in the US last year cost business $4.4M. Biometric verification would have helped stop it.

Set up a free 30-day trial today to help prevent a data breach!

We will contact you within 24 hours to set up your demo.
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According to IBM Cost of a Data Breach Report - 2023