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By Zach — 2 years ago
In this Card Wallet Review, I am going to dive into why this wallet if built for the coldest of cold who like to HODL!
Outside of exchanges, few cryptocurrency markets are as thriving as safekeeping. At this stage in Bitcoin’s life expectancy, trading crypto as well as keeping crypto appear to be the most prominent use situations for crypto –– in that order. Consequently, a flourishing aftermarket for crypto storage services has sprung up, both custodial as well as non-custodial, hot and cold, on the internet as well as offline.
Card Wallet from Coinfinity is the most recent product to go into the fray, offering a protected method for keeping BTC as well as ETH offline.
As the risks of keeping funds on the internet in custodial purses as well as exchanges have been highlighted with a wide variety of hacks as well as departure frauds, the freezer company has grown. From hardware purses looking like elegant thumb drives to gadgets disguised as calculators as well as charge card, the variety of methods to self-custody digital possessions seems unlimited.
So, What Is Card Wallet?
The just named Card Wallet by Coinfinity does precisely what it sounds like. On the surface, this plastic card appears like an incredibly low-tech method to store bitcoin core or ether, however its unprepossessing exterior is misleading. Peer a little closer at the credit scores card-shaped wallet as well as you’ll discover some fascinating details. There are all type of anti-counterfeiting steps at play on the Card Wallet’s service, including microprinting as well as constant color gradient methods, providing it a look much more similar to money.
The banknote-based style makes sense once you discover that Coinfinity –– Austria’s first Bitcoin business — developed this device in conjunction with the Austrian State Printing House. They’re best known for printing passports, a skill they’ve refined over the course of 200 years, and thus know a thing or two about anti-counterfeiting. The notion of forgery sounds strange in a crypto context.
After all, bitcoins are impossible to falsify. The reason why the Austrian State Printing House has gone to town on the anti-forgery techniques they’ve used is to prevent fake cards from entering circulation and to provide guarantees that the private key, which was generated offline, remains offline. The private key for the cryptocurrency address printed on the card is concealed beneath a hologram on the back. It’s accompanied by a warning not to scratch this area –– not even a little, just to test it –– as to do so would be to risk the security of your funds.
The Card Wallet is basically a modern version of the Casascius physical bitcoins that have become collector’s items today. The code printed beneath the Card Wallet’s seal can be thought of as Schrödingers key: until the moment it is observed through scratching off the protective covering, it effectively doesn’t exist. The manufacturer has no record of it.
As a result, you can send funds to the address printed on the front of the card, but you can’t retrieve them until you reveal that seal, and doing so will essentially penalize you to the tune of the $67 the Card Wallet retails for. Think of it as an extremely high BTC network fee, and use it as an incentive not to dip into the funds stored on the card, save for an emergency.
Of course, technically nothing is stored on the card: it simply holds the secret code needed to send the bitcoin from the address in which it is currently locked on the BTC network to a new address on the network. To all intents and purposes, though, Card Wallet might as well physically hold those coins, since without it to hand, you’ll never be able to move those coins again.
How Is Card Wallet Different Than A Normal Hardware Wallet Like Trezor Or Ledger?
Unlike a hardware wallet, there’s nothing to power up or plug in here, but that doesn’t mean that testing the Card Wallet is an entirely analog experience. There is, after all, the QR code printed on the wallet, which, when scanned, reads the BTC address printed along the center. In testing, I scan the code using the Bitcoin.com Wallet and am prompted to select the amount of BTC I wish to send.
When I drag the slider, the funds are released and that’s it: the first satoshis prepare to wing their way to my Card Wallet. When the time comes to move or sell that bitcoin, I will remove the security seal and import the private key that’s revealed underneath into a noncustodial wallet such as Electrum.
In theory, you could continue to use the wallet address securely, even with the seal scratched off, provided you destroyed the exposed private key. There would be little advantage to doing so, however, and it makes sense to view the wallet as compromised once the key has been revealed.
Is The Card Wallet Secure?
On the reverse of the card, there’s another QR code that can be scanned, marked Chainlockcode (CLC). This requires installation of a dedicated mobile app, which will display the balance of the card –– and of any other Card Wallets you wish to integrate into it –– allowing you to manage all your cards within one app without revealing their private keys.
Most people are unlikely to need this, since typing the wallet address into a block explorer achieves the same result, but if you’re a serial Card Wallet collector, it might prove useful While Coinfinity doesn’t support BCH at this time, bitcoin cash holders have the option of generating their own paper wallets, which can be printed at home.
Card Wallet: Final Verdict
This theoretically provides the same security guarantees, and with the wallet folded and sealed correctly, it is effectively tamper-proof, albeit without the same allure as Card Wallet’s impressive shiny hologram. Cold storing cryptocurrency isn’t about showing off, however, and the winning wallet is the one that keeps your funds the safest. Some bitcoiners will balk at paying $67, in the Card Wallet, for a cold storage solution they could roughly replicate at home for the cost of a sheet of printer paper.
Others will appreciate the imperviousness of the Coinfinity card, its convenient credit card shape, and its superior tamper-proof seal. As such, its value is really in the eyes of the beholder. For the same price you could pick up a basic hardware wallet, which will allow you to send, receive, and store a range of cryptocurrencies.
That said, there’s something magical about the seal on the Coinfinity that challenges you not to sully it, but rather to sporadically send funds to it, building up your nest egg over time.
What are your thoughts on Coinfinity’s Card Wallet– would you use it? Let us know in the comments section below.
The Crypto RenegadePost Views: 640
By Zach — 3 years ago
In this review, we are going to deep-dive into the new hardware wallet by D’CENT! Does the D’CENT Wallet have a better user experience than the Ledger Nano X? Does It work with Bluetooth? How secure is this relatively new wallet? Does it provide a better hardware wallet experience than the main competitors? We are going to answer all of these questions and more in this in-depth review, so stay tuned!
If you are new to cryptocurrency hardware wallets and you want to compare which wallet is going to be best for you, you may want to check out the “Product Reviews” tab HERE.
But, since you are here for the D’CENT wallet review, let’s take a look at these details on the first biometric hardware wallet on the market. Let’s go!
D’CENT Wallet – Overview
The D’CENT is a mobile and bluetooth connected wireless hardware wallet device. With additional biometric security and the ease of use, this is a contender for the easiest to use mobile and wireless wallet. So how is it different than Ledger Nano X or other bluetooth devices? The Biometric security is a large differentiator here. It’s super convenient and makes it easy to sign and authenticate transactions on the go.
This means if you want to move your crypto from cold storage to a hot wallet, it can be done quickly and easily. A common scenario here would be if you are trying to pay a friend or you’re shopping and want to pay for a product in store very seamlessly. Let’s take a look at the security, features, and price below to go into a little more detail.
Features & Price
One of the main features I like here is the option to generate a valid QR code on the large OLED screen of this device as a way to send funds directly from your smartphone to your D’CENT wallet. This is super convenient and truly makes this a wireless and independent device that can be used on the go via the D’CENT app, which also includes a market price section and of course all of your wallets and current fiat amount stored within each one.
The PRICE is the nice part. Normally, this device is $159 USD, but for my readers, I am able to offer a special discount down to $140 (UPDATE: Until 11/28/19, You can get this device for only $106), when using code “bitcoinlockup” at checkout. This will ensure you will save some money in the process and will be more in line with the prices of other top-tier bluetooth hardware wallets.
What’s also nice, is you no longer need to backup and restore this device for firmware upgrades like you do with other devices (although you can, since this device can also support bluetooth and USB connectivity if you choose). This makes this a very convenient choice when considering the ease of use and security when choosing how to secure your private keys.
The flagship feature of D’CENT is hands down the biometric security feature of the fingerprint sensor. There are some other hardware wallets that communicate with mobile, and can utilize Face ID or Touch ID for extra authentication with their mobile app, but this gives your authentication on the physical device as well. This is a unique and very secure feature that is not used by any other hardware wallet currently on the market.
The hardware wallet features a built-in fingerprint scanner that manages access to the hardware wallet. This security process improves the convenience for the users and enhances the security during access control. It also provides the wallet with fast transaction signing.
- Multi-IC architecture design
- Bank grade EAL 5+ Secure Element (This is the same security chip used in the Ledger Nano X)
- Secure OS embedded on microprocessor
Additionally, you have multiple authentication methods, with the option to have a PIN and/or fingerprint sensor to authorize changes and sign transaction, so you will 2-step authentication built in.
The coin support is varied. The D’CENT can store and support Bitcoin, Ethereum, ERC20 tokens, RSK, RRC20 (RSK tokens), Ripple (XRP), and MONACOIN. To many, this may not seem like it is very much, however, a majority of the major tokens are ERC-20 tokens and all can be supported natively on this device, which is good. I have not come across a hardware wallet yet that supports RSK and RRC20 tokens yet natively, so that definitely makes this an exclusive hardware wallet first for the D’CENT wallet!
D’CENT Wallet – Conclusion
Overall, the D’CENT has some unique coin support choices, has a quality look and feel in your hands (even though it’s made of plastic), and kind of resembles a key fob for a very high end car. It feels very nice in the hand. As mentioned above, this is the first biometric hardware wallet with a fingerprint sensor built in to the device. It supports enough coins for the average user and it always plans to add more.
This device really feels like the first flexible wireless hardware wallet that is easy to use in a quick scenario on the go and doesn’t require additional steps to update the device and access all of its features. If you are looking for something that feels good in your hand, is super secure, and is easy to use, then this might be your best option for a premium hardware wallet.
What do you think? Would you rather have use the Ledger Nano X or try this new contender for wireless security? Let us know in the comments below!
The Crypto Renegade
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