What do I really have when I get an online wallet with you?
With a normal next account I can access my nxt address on any client as long as I know my pass phrase. In your case, I cannot. I do not know the passphrase that corresponds with my account address. I only can access and control the account with the username and password access on your site. Are you generating a passphrase on your side?
Any insight on how this works is appreciated. Thanks.
- Login and sending mobile
- using Nxt without the need of a client
- very newcomer friendly
Yes, this. The main thing is being able to access your NXT from anywhere (work computer, home computer, mobile, etc).
And plus some things that will be available in the next few days (or weeks) such as:
- 24/7 forging via lease forge power with a transparent forging profit monitor
- Multiple NXT accounts under the same login (so a true "wallet")
- Ability to download your wallet file (so you then know your NXT key)
- Client-side transaction signing
It's geared towards newcomers and non-tech savvy users that can't t or don't want to install the client in their local machines.
My question is more about what's under the hood? Where's the account passphrase that corresponds with the NXT address? Who am I trusting and with what?
You are trusting mynxt.info and me. It is the same as blockchain.info or coinbase.com. With time, we will allow our users more control over the account (as I mentioned above with the ability to download your wallet account keys and client-side transaction signing).