With the rise of bitcoin prices, so did the number of Bitcoin-related crimes. According to CipherTrace, a company that specializes in blockchain analytics and cryptocurrency intelligence, major crypto thefts, hacks, and frauds totaled $4.5 billion in 2019 and $1.9 billion in 2020. Although the total amount decreased in 2020, the value stolen due to thefts and hacks increased to almost $400 million in the year.
Storing your valuable assets online can be very risky as a lot of these thefts and hacks happen in online exchanges and software wallets. Meaning if you had money sitting in an online wallet or an exchange, there is a high possibility of being stolen by hackers without you knowing. Also, if you store your crypto assets like the Yuan Pay group app in your personal computer and your computer has a virus or a trojan, hackers could steal your money in a heartbeat.
In order to better protect their valuable assets, users have started using a device called hardware wallets, or cold wallets. A hardware wallet, when compared with a software wallet, has its advantages and disadvantages. A hardware wallet is essential in keeping your cryptocurrencies safe because it’s only connected to the internet when it’s making a transaction. Aside from that, the wallet is in a constant state of no connection, in or out, and it basically eliminates any risk of your private key from being hacked. The downside is that since the wallet is a physical wallet, you would need to find a place to safekeep or carry.
A good hardware wallet is very hard to come by. Some of the hardware wallets I used to have would have a tiny screen, about the size of a peanut, and would only allow me to add 3 crypto accounts to it. In my quest to find a good hardware wallet, I came across a company called SecuX, based in Taiwan. According to their website, SecuX Technology Inc. is a blockchain security company devoted to developing comprehensive solutions to secure people’s valuable digital assets through blockchain technology. With strong supply chain management and flexible design capability, they also offer tailor made products for a variety of digital asset management applications. SecuX was founded in 2018 and currently offers 3 models of hardware wallets: W10, W20, and the robust, heavyweight V20. All three models come with a large 2.8” color touchscreen, vault-grade protection, account recoverability, and multiple cryptocurrency support.
Security
SecuX wallets are equipped with an Infineon SLE solid Flash CC EAL5+ Secure Element chip, which, according to SecuX, is used to securely store your unique PIN and Private Key. Such vault-grade and military level security enables zero transaction leakage, and surpasses those adopted by banking systems as protection from online attacks. Your transactions are verified without the private key ever leaving the device. SecuX wallets also use a randomized number pad to enter your pins, in case of peeping toms nearby trying to glance at your pin.
SecuX wallets also have a very important security function called the Hidden Wallet, one that uses a user-customized passphrase to create a separate and hidden wallet. Users can store high-value cryptocurrencies in their hidden wallets and this feature is crucially important because if thieves got their hands on your device and pin, they will not know of the hidden wallet.
Coin Support
SecuX wallets also currently support more than 1000 different coins and tokens, including major cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, Dash, Dogecoin, Digibyte, Bitcoin Cash, Tron, Groestlcoin, Stellar, Binance, all ERC-20 tokens, TRC-10, and TRC-20 as of June 2021. SecuX is also planning on adding support for Cardano (ADA) and Binance Smart Chain (BSC) for July 2021, and many more coins in the near future.
BIP 32, BIP39, and BIP44 Compliant
All SecuX wallets are fully compliant with BIP32, BIP39, and BIP44 protocol, which means you are able to recover existing wallets with standard 12, 18, or 24 recovery words. With this, you will be able to recover any compatible wallet on the SecuX wallet or recover your SecuX wallet on any BIP32, BIP39, and BIP44 compliant software or hardware wallet if you lose your hardware wallet accidentally.
W10
All 3 models come with the aforementioned features, and with the V20 being the flagship and the high-end device and W20 being the most popular of its line, the W10 is the little brother and SecuX’s entry-level wallet. Though lacking in Bluetooth capabilities and a battery, the W10 is still sufficient in conducting your day-to-day cryptocurrency trading and storage. One of the big advantages of the W10 is its weight. The W10 comes in at 49 grams, less than the weight of 2 slices of bread and is only 9cm by 6cm. With this weight and size, you can carry it with you wherever you go.
W20
W10’s big brother is the W20 and it is the bestseller of SecuX’s lineup. With the already impressive and robust feature of a large touch screen and multiple cryptocurrency support, the W20 also includes Bluetooth capability and an embedded Li-polymer battery. With the added Bluetooth capability, you can access your crypto on your laptop or mobile devices. The ability for Bluetooth connection also opened the door for cross-platform support and users can now connect to SecuX with Windows, Mac OS, iOS, and Android mobile devices.
SecuX also added an embedded battery inside all W20s and V20s, allowing users to use the W20 for weeks even months without having to recharge your device. According to SecuX’s website, the 600 mAh battery inside the W20 and the V20 allows up to 7 hours of continual use and at least 3 months of idle time on a full charge.
V20
The heavyweight and the flagship device for SecuX’s lineup belongs to V20 and I have to warn you, it has got a presence that is hard to miss. The V20 is identical to the W20 in terms of specifications, features, and the chip inside. With an aluminum frame, a rubber base, and a diamond-shaped metal frame, the V20 resembles a strong and sturdy vault. It comes in at 120 grams, almost 3 times the weight of a W10. Though it is heavy, the V20 is very sturdy and should be able to withstand whatever you throw at it, but don’t quote me on that. The V20 also uses USB Type C, in contrast with Micro-B for the W10 and W20, which is a plus for me. With most of the smartphones in the market, except for Apple iPhones, using Type C, having another device that uses type C means you have backup cables, in case you lose the original.
Pros
- W10 and W20 are light and easy to carry around
- Easy to use with step-by-step guides
- Ultimately secure
- Cross platform support and Bluetooth capability
- Over 1000 supported coins and tokens and up to 500 accounts per wallet
- Support for Cardano ADA, Binance Smart Chain BSC and WalletConnect is scheduled for July 2021.
Cons
- V20 are a little bit heavy and big
- Need firmware updates from time to time
- No phone support
- Only support major coins/tokens as of June 2021.
As a bonus for our readers, you can receive a 15% discount on your order with coupon codes.
To Get 15% off use coupon code: ” intelligenthq ” for SecuX V20 and W20 hardware wallet
To Get 10% off use coupon code: ” intelligenthqw10 ” for SecuX W10 hardware wallet
SecuX Shop: https://shop.secuxtech.com/
Founder Dinis Guarda
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