VaultTel, an American start-up has launched a mobile crypto wallet. It’s a hardware wallet that fits in the SIM tray of a smartphone. The company has launched it in the US, while the European launch is expected soon.
The launch of the wallet also includes an app and the VaultTel Intellichip card. Together, these are expected to keep users’ crypto safe even in their smartphone.
Cryptocurrencies are popular, however, not everyone finds them easy to use. Users need a certain degree of computer literacy to deal with cryptocurrencies.
There are various aspects where this computer literacy is crucial. Users need to regularly back up their computers. They need to use the right anti-virus solutions.
Crypto users have other security aspects to deal with as well, such as securing their private key. Wallets are important to crypto users, however, there are various kinds of them.
While hardware wallets provide maximum security, their operations are not always user-friendly. Web wallets are slightly easier to use, however, they are less secure. Mobile crypto wallets tend to be less secure as well.
Even if you ignore the uncertainties with respect cryptocurrencies, you will find that users have enough challenges in dealing with crypto wallets alone! Experts find that wallets lacking user-friendliness contribute to the slow adoption of crypto.
VaultTel could soon change that!
VaultTel mobile crypto wallet
VaultTel is offering much more than the convenience of the wallet fitting in the SIM tray! First of all, its’ a hardware wallet, therefore, it incorporates higher security by design.
The new wallet is available for Android and iOS devices. Users need to use their app, chip, and chip accessory/dongle. At the time of writing, the Android package costs $98, whereas the iOS package costs $131. The iOS package includes the chip accessory/dongle.
Crypto users can use a device lock. This enables additional security since the wallet can be used with one particular device only. VaultTel uses the AES512 encryption standard, which is considered the military-grade encryption.
Users can back-up their wallet. The VaultTel wallet uses the latest Bitcoin standards. The wallet is compatible with the Android fingerprint and iOS facial recognition features.
There are other security measures. One is the biometric authentication feature. No one can transfer cryptocurrencies from the wallet without knowing the biometric authentication. Moreover, users can use the “geolock” feature which restricts the wallet use within a geographic region.
The blockchain-crypto ecosystem seems to be taking wallets seriously, and innovations are coming in rapidly. The recent investment by Japans’ SBI in a Swiss wallet start-up is a good example.
Wallets for ease-of-use
It’s increasingly clear that crypto users must have a noticeable ease-of-use for the wider adoption of crypto. The new mobile crypto wallet from VaultTel seems to fit the bill well!