Your Magnr Savings account is a managed account. This is different to a conventional web or hardware wallet where clients are relied upon to keep and technically manage wallet seeds and private keys.
As part of our strict security measures, our business will move client deposits to a number of secure cold-wallet multi-sig storage facilities. It is for this reason that you may see additional transactions against your unique blockchain address.
At Magnr Savings, we utilise the blockchain to keep a record of all inbound deposits made by our clients. This enables full transparency, making it possible for clients to independently track the status of incoming transactions and confirmations on the public blockchain, without ever needing to log in.
As a matter of client privacy, the public blockchain will not correctly show what you have in your account balance. All your actual transactions are written and recorded on our internal systems.
Your Magnr Savings account is the master source and absolute record of all your Deposit, Interest Payments and Withdrawal transactions.
We do not share addresses across multiple users, nor do we lend your funds out to traders on the platform. Your Savings funds are ring-fenced and protected from other areas of the business.