Linen’s non-custodial wallet is powered by Gnosis Safe multi-signature architecture to provide you with top-level security, previously available to big players only. Linen’s mission is to empower individuals to self-custody their crypto assets in a responsible way and to provide access to the ever-growing Decentralized Finance (DeFi).
The key element of any crypto-based system is a private key that provides access to accounts on a blockchain. One of the main struggles people face when they receive their first crypto is how to easily and securely store their private keys.
How does Linen wallet work?
Linen Wallet is secured using three seed phrases, not just one like most non-custodial wallets. Two out of the three seed phrases are required to make a transaction. As such, even if someone steals one seed phrase, they won’t be able to access your assets. Other non-custodial wallets only have one seed phrase, and if someone gets access to it, all your assets are lost forever.
Linen Wallet makes it easy to manage your seed phrases—one is stored in your cloud drive, one in a secure area of your mobile device, and one is secured by Linen.
To access their Linen-secured seed phrase, users have to authenticate with their email and phone number. The team are currently working on a functionality that would allow users to access their wallets using third-party interfaces without relying on Linen. This way, even if Linen, the company, is no longer around, users can still access their assets.