AMA Recap Crypto Library with HyperPay


On 17th September 2021, HyperPay conducted an AMA in the Crypto Library Community. Our guest is Maya. Lots of questions as usual from the Community about HyperPay progress. The HyperPay team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into HyperPay.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Maya (HyperPay) : Hi everyone, I’m Maya, the HyperPay community leader,today, I would like to introduce to you the market positioning and main business of HyperPay Wallet, as well as HyperPay’s flagship products, and welcome to ask me any questions about HyperPay.
Crypto Library Team : Please briefly introduce HyperPay!

Maya (HyperPay) : HyperPay is the world’s first multi-ecological digital asset wallet that integrates off-chain wallet, HyperMate hardware wallet, on-chain wallet, and shared wallet. Established in 2017, it provides users with one-stop services such as asset management, investment, consumer payment, etc. . HyperPay now has more than 1 million users, manages more than $1 billion assets, and has processed more than 310 million transfers. HyperPay cleverly integrates four independent wallets in one APP so that users can freely switch to any wallet for related operations, and transfer is also convenient between wallets. The four wallets, each serves for different purpose. Off-chain wallet can be used to achieve asset value preservation and appreciation by investing in products launched by HyperPay; on-chain wallet which supports the mainstream public chains in the current market, can perfectly meet the needs of users for depositing funds; shared wallet facilitate frequent exchanges of large amounts of funds; hardware wallets are suitable for long-term static storage for large amounts of funds. HyperPay also has other services such as wealth management, currency transaction, fiat transaction, instant exchange, mortgage lending, market tracking, multi-signature co-management and others. The products in off-chain wallet include: current and fixed investment products, PoS Staking, digital currency mortgage lending, and cloud mining. All of the above are currency-based capital-guaranteed investment products.

Crypto Library Team : What products are currently popular in HyperPay?

Maya (HyperPay) : Today, the flagship products I want to introduce to you are HyperMate Pro hardware wallet and HyperCard credit card. HyperMate Pro, HyperPay's new generation hardware wallet (the first generation is HyperMate G), was officially launched on April 8. HyperMate Pro inherits all the functions of HyperMate G, and combines traditional mature security technologies - fingerprint recognition to achieve a secondary security upgrade at the physical level to prevent illegal hijacking of user accounts by external factors in extreme cases, thus to ensure that every transaction is correct and safe. HyperMate Pro supports the mainstream digital currencies, with a total of tens of thousands, supports multi-sig of BTC, HC, ETH, BCH, LTC and ERC20. It has built-in CC EAL 6+ security chip, double transaction confirmation, firmware upgrade, Bluetooth 5.0 connection to HyperPay app, high level security and DeFi session with rich entrances. HyperCard can be used to consume and store assets. It also supports legal currency OTC, so you can use it in more than 176 countries, over 50 million merchants around the world. Shopping, entertainment, or travel, you only need to show your HyperCard to get a perfect and smooth payment experience all over the world.

Crypto Library Team : How to apply for Hypercard?

Maya (HyperPay) : HyperCard is easy to apply and can be purchased directly in the HyperPay wallet. Digital currency can be exchanged into legal currency in real time after being deposited to HyperCard, eliminating the cumbersome process and the trouble of paying cash. Safe payment is guaranteed, and consumer privacy is protected by law. HyperCard creates a new payment method that is easy-to-use, fast, flexible, and highly secure. In the process of card purchase and opening, when it needs to pay in USDT and you do not have any in the wallet balance, you can click "One-click purchase" on the homepage of HyperPay app to buy certain amount of USDT through your credit card (different card have different prices, purchase on your demand), or you can just transfer USDT to your wallet balance. After submitting the card opening application, it will start the review step which is usually completed within 24 hours, and the result will be emailed or phoned to you. Once it passed the review, virtual card can be used immediately, but the physical card will take a certain time to be sent to you. this is our Hypercard: 
More card types can be viewed in the app!

Crypto Library Team : What currencies does Hypercard support for deposits? Is the fiat currency withdrawn when using an offline ATM in a particular type of currency? What problems can be effectively solved by using HyperCard?

Maya (HyperPay) : HyperCard supports BTC, ETH, USDT for deposit. The legal currency when users withdraw cash at ATM basically is the local legal currency. When using HyperCard, users can effectively circumvent the local government's restrictions on digital currency transactions, exchange legal currency at a lower rate, and conduct the operation with no risks; HyperCard also supports fast exchange between the local currency and usd and euro, which can be automatically converted to the currency that needs to be used during consumption; holding HyperCard can also effectively solve the problem of foreign exchange, worry-free consumption across borders.

Crypto Library Team : Can you talk about the reasons for choosing a hardware wallet?

Maya (HyperPay) : I’ve heard many people say that they don’t have much assets in the hands, and putting them in the exchange is relatively safe because even if something goes wrong, the exchange will take the responsibility. The fact is just the opposite. The shocking news of the industry's leading exchanges has sounded the alarm for us. Centralized institutions may shut down for many reasons. The DeFi field continues to be hot. Users can withdraw their assets from centralized institutions and use hardware wallets to participate in DeFi. Therefore, users can completely connect through wallets and DApps, and assets are kept in In your own hardware wallet or other media, which is exactly the developing direction of the industry. The hardware wallet stores your private key securely in the device, and no hacker can disclose it. Hardware wallets are not affected by computer viruses, which means you don't need to worry about infected computers used with hardware wallets. Before sending funds from the device, users need to make physical access on the hardware wallet device for confirmation. These all ensure that the hardware wallet can guarantee the safety of user funds to the greatest extent. Protecting the safety of users' funds is our eternal mission. This is why we are deeply involved in the wallet field and gradually iterate our hardware wallet products. 

Crypto Library Team : HyperMate Pro wallet is an upgraded version. What upgrades does this wallet have compared to the previous version?

Maya (HyperPay) : This time, HyperMate Pro has made great improvements in exterior, user experience, functions and safety performance compared with HyperMate G. The International Organization for Standardization divides the CC assessment level into EAL 1-7 from low to high. Generally speaking, the safety requirements of commercial products are within CC EAL 5. The bank chip debit cards require CC EAL5+. Higher levels such as CC EAL6 and CC EAL7 are for military use. HyperMate G and HyperMate Pro all reach CC EAL6+, but Pro has been detailed optimized and improved. HyperMate Pro inherits all the functions of HyperMate G, and combines traditional mature security technologies to achieve a secondary security upgrade at the physical level to prevent illegal hijacking of user accounts by external factors in extreme cases, thus to ensure that every transaction is correct and safe. This is the two generations of HyperMate
1. Fingerprint
Users need to verify their fingerprints on HyperMate Pro to confirm that the transaction is initiated by themselves, which double guarantees the security of the transaction.

2. Mnemonic
Users have two options for creating mnemonic words: users can choose to create 12 or 24 mnemonic words, and the two standards do not affect the safety coefficient.

3. Bluetooth 5.0
Bluetooth 5.0 has an increase and optimization for the speed of low-power devices. Bluetooth 5.0 combines with wifi to assist in positioning indoor locations, improving transmission speed and increasing effective working distance.

4. Optimizing user experience
HyperMate G only has English language, but Pro supports English, Chinese, Korean, Italian, and Arabic 

Smoother physical keys. HyperMate Pro has made a lot of optimizations in details to try to provide users with better experience. Brand-new design HyperMate Pro has larger monitor and the physical keys, which is more intuitive and easier to operate. Also, the vertical structure, the appropriately increased volume and weight and the perfectly arranged keys make it more suitable for one-handed operation.

Crypto Library Team : Compared with other hardware wallets, what are the advantages of HyperMate Pro?

Maya (HyperPay) : Some hardware wallets currently use webs or desktops to work with the hardware wallet, such as Ledger Live or Trezor, but compared to the mobile app, web or desktop essentially carry a greater risk exposure. Mobile apps run in a sandbox environment. Data is not allowed to be read between apps. Products on the mobile side turn on system global area encryption by default, which is often not the case on the web or desktop. User permissions on the mobile are strongly restricted, unlike on the computer, where users can even bypass some security settings through the command tools. Also, ordinary users are not good at discerning phishing links. When downloading a desktop, users are likely to download to the wrong companion software, resulting in a coin loss. At present, there are two types of hardware wallets on the market. One is chip-based hardware wallets, which store private keys, PIN codes and other private information in the security chip, such as Trezor, Ledger, HyperMate, etc.; the other is a mobile wallet based on the Android system, like Kushen Wallet. This kind of wallet puts the keystore in the memory, and there is no security protection in the memory, so it leaves an opportunity for hackers. If such wallets are lost, they will be physically cracked. There are also differences between chip wallets. For example, Trezor uses ordinary chips. If hackers conduct electronic attacks, ordinary chip is helpless. In 2017, at the World Hacker Conference held in Las Vegas, USA, a foreign security team demonstrated on the spot how to hack Trezor wallet. It only takes 15 seconds to transfer Bitcoin by loopholes after removing the wallet shell. Ledger uses the security chip with the security level of CC EAL5+. The International Organization for Standardization divides the CC evaluation level into EAL 1-7 from low to high. Generally speaking, the safety requirements of commercial products are within CC EAL 5. The bank chip debit card used requires CC EAL5+ security certification, and higher encryption levels such as CC EAL6 and CC EAL7 belong to the military level. Ledger uses two chips, one is secure and the other is non-secure, so it exists security risks in the process of transmitting information between these two chips. Ledger has also exposed security vulnerabilities. Hackers can obtain the PIN code of the wallet step by step without removing the outer shell by forcibly upgrading the non-secure chip. The PIN code is equivalent to the password of the wallet. With it, you can open the wallet and transfer money away. Unlike Ledger, HyperMate adopts the single-chip design, without adding any chips for auxiliary calculation or information storage in the design circuit. All the components such as buttons, screens and Bluetooth are directly connected to the security chip to avoid data transmission between multiple chips, completely eliminating any possibility of tampering with data. HyperMate adopts the randomly arranged keyboard for PIN code input, each at different position, and no real PIN number displayed, minimizing the probability of passers-by peeking at the PIN codes and stealing private keys. When the PIN code is entered incorrectly 10 times in a row, HyperMate will automatically destroy the stored data, which can effectively prevent the hardware wallet from being violently cracked by hackers. At the same time, all transactions require a second checking and confirmation. The trading information can be fully displayed on the HyperMate’s display screen, and once the APP may suffer tampering, the information displayed on the screen not the same, the user can reject the transaction directly. Moreover, the information on the screen is produced by the chip internally through calculation and encryption. The wallet private keys and mnemonics of HyperMate are generated purely by hardware, never leaving the security components, and never connecting to the network. In addition to the US FCC authorization certification, we have also obtained the European CE safety certification. Our hardware wallet is very popular in overseas markets. We have a large number of orders from the American and Italian markets. HyperMate meets the BIP32/BIP39/BIP44/BIP45 standard. The creation and recovery of the wallet are completely offline. Once the private key is generated, it is stored in the encrypted security chip, even the hardware wallet itself is unable to read it.

If you are interested in HyperMate, you can click to purchase.
Crypto Library Team : What should users consider when choosing a hardware wallet between 'HyperMate G' and 'Hyper Mate Pro'? For the future, will #hyperpay release other hardware wallet variants?

Maya (HyperPay) : When users choose HyperMate G and HyperMate Pro, it mainly depends on the user’s preference deviation for product design, because the security of the two hardware wallets is very high. Regarding the launch of new products, HyperPay’s exploration in the security field will not Stop, we just want to provide users with a more secure environment to store their encrypted assets.

Crypto Library Team : There is CC EAL6+ Security Element in both #HyperPay hardware wallets. Can you explain what is the importance and advantages of this feature in terms of security in HyperMate?

Maya (HyperPay) : HyperMate uses the security controller chip produced by Infineon, the world's leading semiconductor company, which is an advanced security encryption controller. CC EAL6+ is not only a security level for military use, but also means that the HyperMate security chip has passed CC security certification. Necessary testing and evaluation. so, the use of HyperMate is more guarantees the security of storage assets.

Crypto Library Team : Basically a HyperMate hardware wallet is an electronic device and can be connected to a network (bluetooth). As a layman, Is this device safe from viruses and hackers? And can you explain how the security system in HyperMate works?

Maya (HyperPay) : The hardware wallet and the mobile phone are connected via Bluetooth when there is no network, so there is no risk of exposure during the connection process. The underlying system java cos of HyperMate hardware wallet is a new generation of smart card system based on the industry standard of Java Card. The current Pro version is upgraded and customized in the CC EAL 5+ certified version. The concept of CC has just been popularized. So, usually IC card chips must pass EAL 4+ certification, and the HyperMate underlying system has reached the EAL 5+ certification level, which is the first case in the industry.
Crypto Library Team : Can you tell me How can I participate in the Cloud mining program? What mining packages are currently being sold by Hyper Pay? And what is the APR in the Cloud mining Package?

Maya (HyperPay) : Let me show you some screenshot about this ,We have sold fil, btc, eth cloud computing power products, but we are not selling them now, and we will continue to add new products in the future. 

Crypto Library Team : Currently, crypto HACKS and ATTACKS have INCREASED significantly. How SECURE is your project from HACKING ? What STEPS or MEASURES have you TAKEN to avoid this?

Maya (HyperPay) : First answer our wallet system. We are the world’s first four-in-one wallet, including centralized and decentralized wallets. For the problem of centralized thunder, HyperPay has a unique security engine, Hyper Security, Hyper Security is a security engine designed based on the blockchain. The Blockchain Risk risk control system prevents users from embezzling funds. The Payments Center risk control engine and the clearing and settlement center sign the three-party system authorization to achieve wallet broadcast. The system's intelligent authorization method avoids human operations. This leads to financial security risks. At the same time, we also have a well-known team that audits the entire process. Many blockchain professors and many excellent blockchain team members participate in the design and development, and ask users about all-round security protection to eliminate security risks.

Crypto Library Team : Can you explain what is off- chain, on-chain and hardware Wallet?

Maya (HyperPay) : Offchain means that the wallet under the chain is centralized, and oncahian is on the chain, which is decentralized. For specific usage tutorials and introductions, let me show you the introduction link of our official website:
Crypto Library Team : Can I buy tokens right now and also which wallet support - token?

Maya (HyperPay) : We have our wallet token, hpy, it can be purchased at coinw.

Crypto Library Team : What tools does HyperPay Wallet have to compete with well-known wallets like Trust Wallet or Atomic? Do you have an interest rate on savings?

Maya (HyperPay) : Let me send you some comparisons between us and other wallets.  
As can be seen from the above picture, we have a great advantage in many similarly competitive wallets.