Blockchain start-up VaultTel launches sim-sized hardware wallet

Blockchain start-up VaultTel has released details on the upcoming release of its sim card-sized hardware wallet.

The “intellichip” will work in tandem with an app that will store cryptocurrency private keys on mobile devices.

Coin Rivet recently discussed the positives and potential risks of a mobile-based hardware wallet during last week’s edition of Coin Rivet TV.

It was concluded that while the implementation of hardware wallets within a phone may help accelerate adoption, it brings to light the risk of theft and robbery.

VaultTel’s wallet is designed for use on Android dual-sim devices, but it can also be used with iPhones using a dongle attachment.

The company claims that “military-grade security” is being used to protect users’ private keys. VaultTel’s website reads: “More than that, no spy screen recorder or Trojan can record what is happening on your hardware wallet, as it’s not using your laptop or system resources.”

Both the Android and Apple versions of the device are modestly priced, coming it at £75 and £100 respectively.

VaultTel’s product is now for sale in the US and will be available in the coming days throughout Europe.

A wave of smartphones with hardware wallet implementation have hit the market in recent months, with Samsung’s upcoming Galaxy S10 including cryptocurrency storage features, while the Finney phone by Sirin Labs boasts similar capabilities.

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