Frequently Asked Questions
General
What products do you offer?
With NewFinance you can invest in Bitcoin and secure your financial future. Unfortunately, the current economic situation makes this necessary. Bitcoin is used by millions of people as an investment.
Who can use NewFinance?
Everyone. This is the vision of NewFinance and Bitcoin. No one is excluded and everyone has the same prerequisites.
Are you a bank?
No. We just want to offer all the useful features of a bank, but not be like a bank.
What does NewFinance cost me?
NewFinance is absolutely free for you during the beta. After the end of the beta, NewFinance remains free for all beta users.
Is there a free trial available?
Yes, you can try us for free. If you register before December, you get NewFinance free for lifetime. See our Billing.
How can I use NewFinance?
You can download the App on AppStore and Google Play. Download now.
What fees do I have to pay?
We do not charge fees. In the Beta-Version, you only have to pay the transaction fees for the blockchain. In the final version, we want to get rid of that fees.
Can I send to / receive from an Iban?
In the final verion, yes. In the Beta-Version we will gradually unlock this feature for early users.
Moving to NewFinance
How do I use NewFinance without knowing anything about Crypto?
Download the app and send some money to your NewFinance account. Simple as that, you are ready to go.
Can I switch from another Bitcoin wallet?
Yes, just import your seed phrase or private key. Our MPC technology will do the rest.
Can I switch from a bank?
This is our final goal, having the full capacity of a bank, without giving away your money to the bank. This is not available in the Beta-Version. Give us a try anyway, so that we can get this far together.
Can I switch from another Non-Bitcoin wallet?
It's possible, but you have to convert your cryptocurrency to Bitcoin beforehand.
Safety
How is my money secured?
Your money is safely stored on the Bitcoin blockchain. Only you have access to it locally encrypted on your smartphone. Our MPC encryption technology protects your access. If you lose your smartphone, your access is protected by a backup.
Who have access to my money?
Other than with banks, only you have access to it. We are technically unable to access your money.
How save is my money?
We are securing your money with MPC-technology, already used by institutions to secure billions of dollars. This is currently the savest non-custodial wallet technology.
What is MPC?
That's Multi-Party-Computation and is the technology to keep your money save and easy. Read more.
Where is my money stored?
Your money is secured on the Bitcoin Blockchain and only you have access to it. Your so called Private Key, your access to your money is securely saved with our MPC technology.
What if I loose my phone?
No worries, we automatically back up everything you could loose.
Where is my Seedphrase?
Due to the MPC-technology, you no longer have to write down a complicated Seedphrase. But if you want to, you can have it everytime.
Questions for enthusiasts
When Lightning?
After launching our Private-Beta, giving you full lightning support will be our main goal. (For everyone not knowing what Lightning is, you don't have to for using NewFinance.)