VaultTel, a US-based tech startup has launched a NextGen crypto hardware wallet that resembles a SIM card. The official press release on Tuesday reported that VaultTel has taken technology to another level by launching a miniature crypto-exchange wallet that fits into the SIM card slot of mobile phones. The wallet can also be used with a connector on IOS devices.
On Point Features
VaultTel has clearly created something that would set them apart. The company talked about the multiple features of their new technology in their press release, which includes encryption that can rival military standards, and biometric validation. The biometric authentication feature ensures the non-transferability of funds without user intervention.
It also features an Intellichip features “geolock,” through which access in particular regions and the scope of usage of the hardware can be restricted since it works according to the AES (Advanced Encryption Standard) 512 to lock all forms of data in the wallet.
The company claims that the features of the hardware are free from the risk of screen recordings since it doesn’t use the resources of the platform that it runs on. Furthermore, the startup has introduced a mobile application that would keep the users updated about their funds. As of now, the hardware wallet is available with offers bifurcated in two: a $131 package for IOS and $98 Android version, as reported by their website.
The revolutionary hardware is expected to “immediately” head towards Europe by means of VaultTel’s minor in the United Kingdom. To increase the hype, mobile giant, Samsung confirmed that its upcoming launch, the Galaxy S10 will come with a built-in anti-hacking feature to protect such hardware wallets from outside attacks.
The benefits of such a technology are manifold since it provides enhanced security and ease of carrying crypto funds.