Cancoin Blog

Creating your Cancoin account

Ty Cancoin
July 25, 2017

Creating your Cancoin account is quick, easy and most of all secure. The 12-word mnemonic that is created during the wallet generation process is your key to sending bitcoins and using your OpenPGP order chat, and should be backed up during account creation.

To create your Cancoin account, generate your multi-sig bitcoin wallet and be buying and selling bitcoins in minutes, you must first create in your basic account details. Go to and enter a username, email address and set your password.

From there you will be taken to the seed view, where you can create your multi-sig Bitcoin wallet by clicking ‘Generate Wallet’. The creation process is done completely in your browser, so your seed, private key, and 12 word mnemonic never exist on Cancoin servers. The first step is a randomizing process that uses your cursor or accelerometer equipped device movements to create the initial seed for your wallet. Continue these movements until the timer reaches zero to ensure true randomness, as this is crucial to private key security. The rotating colours and icon trails that are used during the process are indicators of your seed being randomized.

After you have generated your wallet’s seed, you will be shown your 12-word mnemonic. This mnemonic is an encrypted version of your private key, so it is VERY important that you back up this information. Your 12-word mnemonic can be used to sign and send transactions, set your passcode, and decrypt your order chat. It will never exist on Cancoin servers and cannot be recovered if it is lost. During this step you can download your passcode encrypted mnemonic, as well as the unencrypted mnemonic by clicking the relevant button. You can also cut and paste your unencrypted mnemonic from the text area shown.

During this time your order chat OpenPGP key will be generated and encrypted with your 12-word mnemonic in your browser. You can use your 12-word mnemonic to encrypt and decrypt your order chat.

Once you pass a simple mnemonic test, you will be shown a success page and your account has been created. You will receive an email with a link to verify your account's email address. Once verified, you can begin buying and selling bitcoins in the Marketplace.

Bitcoin wallet
Every account comes with a free, easy to use multi-sig bitcoin wallet to send, receive and secure your Bitcoins.
Bitcoin marketplace
Buy & Sell bitcoins directly from other users with your prefered currency, location, price and payment type.
Custom Alerts
Create custom market and listing alerts to get instant price updates sent via SMS, email and more.
Cancoin is a peer-to-peer (P2P) bitcoin marketplace and multi-sig (P2SH) wallet service offering quick and secure bitcoin exchanges.
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