French electronics manufacturer ARCHOS has announced the launch of preorders the ARCHOS Safe-T Mini which it hopes will be an appealing anti-hacking solution to the cryptocurrency community.
The ARCHOS Safe-T Mini is the company?s first hardware cryptocurrency wallet through which the French firm hopes to help users secure their cryptocurrencies. Cryptocurrency heists through hacks on cryptocurrency exchanges and digital wallets have resulted in losses. The number of hacks reported on crypto exchanges has also been quite high especially this year. For example, a recent hack on South Korean exchange Bithumb was hacked and cryptocurrencies worth $31 million were stolen.
Just this month, another South Korean exchange called Coinrail, reported a heist through which hackers made away with cryptocurrencies worth $40 million. ARCHOS has identified that there is clearly a demand for a solution that will ensure the safety and security of cryptocurrencies. The Safe-T Mini is a cold storage digital wallet that is designed to provide a high level of security to cryptocurrency traders and their digital assets.
The wallet is not yet available in the market but the company has announced that users can preorder them. The Safe-T Mini can be preordered from archos.com, as well as Amazon.com and shipments are expected to commence on Tuesday, July 17. The device will be priced at $59.99 and ARCHOS will accept payment in Bitcoin on its online store. The hardware wallet was first unveiled at the at the Mobile World Congress event which was held in Barcelona in February this year.
Impressive features provided by the crypto wallet
Some of the features offered by the wallet include offline execution of all transactions, secure checking of account, sending and receiving payment securely, and offline isolation of cryptographic keys to make sure that assets are protected. The device will also feature a screen that will display transaction information and this will be useful because it will allow users to confirm transaction details before validating.
All the transactions involving the device have to be validated using physical buttons located on the Safe-T Mini. This is one of the security measures aimed at avoiding remote hacking of the device. The device also features software which requires a pin code when setting up an a recovery code that only the user will know.