Silex – A free Coinigy Alternative

in CRYPTO TOOLS

Silex is a new platform where you can login to all your crypto exchanges but not have to go through the login / 2FA steps and have a unified interface. You also do not need to upload your API keys to a 3rd party server like it’s the case with coinigy. Silex is an engaged private project in its beginning stage. In a world where everything is commercialized it feels good to see some kind of free projects by crypto enthusiasts. A convenient solution if you are a lazy bug and don’t want to mess around with all these security features of exchanges (which often prevents yourself from logging in.

An extra layer of safety for your API keys

The API keys are stored encrypted on your laptop and you only need a PIN code. The PIN code is just guaranteeing that someone who steals your laptop cannot access your funds before you have time to realize it and cancel your API keys.

How does the encryption work? The PIN code is sent to the Silex server and is hashed with SALT, the hash is checked against a hash stored in the database. If the hash is wrong a pin retry count is decreased. After 5 wrong pin entries, the account is canceled. There is no PIN reset available. If successful, the hash is sent back to the client and is used as an encryption key for the local storage of account information. So the attacker would have to attack the database and steal/hack the laptop to gain access to your funds. A solution that sounds pretty safe.

Not all exchanges are created equal and at this stage of development, not all exchanges allow all operations. That being said, in its current version, 7 different exchanges have been integrated: Binance, GDAX, Bittrex, Kraken, Kucoin, Poloniex, Cryptopia.

You can give a try, just go to http://silexapp.com and click download. The website misses yet all the needed information, but you can fiddle through it. I think this is a nice engaged private project, worth looking after if you are in search of a free Coinigy alternative.

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