Bitcoin wallet security is of the utmost importance to both companies and users all over the world. Without proper security measures put in place, there is no guaranteeing customer funds are safe and secure at all times. BitLox has announced a new line of physical Bitcoin wallets which are not only more secure and privacy-centric but also nearly indestructible.
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BitLox Presents A Strong Case
When it comes to physical Bitcoin wallets, there has to be a mix of both software and hardware security. BitLox has taken a unique route by creating a wallet solution encased in titanium and aerospace alloys while still keeping the size incredibly small. The BitLox wallet weighs all but 25 grams, and is 4 mm thick, making it very similarly shaped to a credit or debit card.
Despite the device being very small, there is a two-inch e-paper display on the front or the physical wallet. But it is under the hood where BitLox wants to differentiate themselves from the competition, by offering multiple layers of protection, focusing on privacy, and even Tor-based access.
Digital currency enthusiasts do not often think of Darknet access when using a physical Bitcoin wallet, but BitLox feels there is a large market for such a solution. By using Tor as a gateway to the Darknet, completely anonymity can be offered to Bitcoin users all over the world. To make matters even more privacy-centric, built-in support for TailsOS is available as well.
Hidden wallets are an integral part of the BitLox device as well, although it remains to be seen how the company plans to achieve this. Users can allegedly stash funds in separate wallets although the hidden wallets can not be proven to exist. This is quite a bold claim, considering every Bitcoin address ever created is visible on the blockchain. The press release mentions how up to 50 hidden wallets can be generated, yet fails to provide any further information.
For the more paranoid Bitcoin users among us, there is a self-destruct function for PIN codes – of which there can be a maximum of four – associated with the device under duress. This results in resetting BitLox to its factory settings and wipes all of the device’s memory. Unfortunately, this will also mean all wallets associated with the physical Bitcoin wallet will be wiped clean.
If that weren’t enough to get people to buy a BitLox, Anti Evil Maid integration it at one’s disposal. Just in case some people doubted whether or not their BitLox is the genuine device – and not a US$300 replica – a special recognition phrase can be set up to verify the authenticity of the physical Bitcoin wallet.
A Lot of Promises, But Can They Deliver?
Everyone can clearly see the BitLox Bitcoin wallet hold a lot of promise, assuming the development team can make true on all of these features. While there may be several over-the-top features for everyday consumers to take advantage of, it is better to offer too many security measures rather than too few.
That being said, very few people will be willing to spend US$300 for a device that may or may not work as advertised. It is the first time BitLox presents a product to the public, and there is no previous reputation to speak of. However, with mobile apps and a Chrome Extension ready to be used for managing funds on the BitLox device, the case is somewhat compelling to take the plunge for some Bitcoin enthusiasts.
Source: PR Newswire
NewsBTC has contacted BitLox for additional comments. This article will be moderated accordingly.