A few months ago, we had the privilege of covering a unique product in the world of Bitcoin and digital currency. Crypto Vault, a new Bitcoin startup, held a crowdfunding campaign on StartJoin to obtain funding for their heat- and water-resistant cold storage solution. That goal was not met unfortunately, but they have recently started offering their product in their online store.
Crypto Vault – Physical Cold Storage
Bitcoin wallet security is an area of great concern for both developers and Bitcoin enthusiasts. There are multiple ways to lose bitcoins stored in a wallet on your computer, mobile device, or by even using an online service. Bitcoin is all about being responsible for your funds, which also means that you need to take security matters into your hands.
If you are looking at ways to securely store your Bitcoins, there are quite a few options at your disposal. However, one of the most secure methods is looking at some cold storage solution, which are a bit harder to come by. Especially when you take into account that there are other factors to worry about when it comes to cold storage.
Most people would revert to using a paper wallet, which is a great tool to store Bitcoin in an offline manner. Paper wallets can be printed out on the fly, and stored wherever you feel most secure. On the other hand, paper is not exactly weather-proof, let alone resistant to fire and water damage. Plus, a piece of paper can get lost quite easily.
That being said, Crypto Vault has come up with a combination of paper wallet and physical cold storage that can not be tampered with. The product they offer revolves around a physical coin – called “Vault Coin” – designed to serve as an enclosure for your private and public Bitcoin wallet keys. Besides nice-looking, the Vault Coin serves other purposes as well.
Vault Coin – A Cheap Tamper Evident Cold Storage Solution
Crypto Vault’s Vault Coin is crypto-agnostic, meaning it can not just be used for Bitcoin cold storage solutions, but for any other digital currency as well. Considering there is no software involved, there is nothing to take into account in terms of supporting altcoins. Every digital currency works the same when it comes to paper wallets and storing them, the information on the piece of paper is the only differential.
Speaking of this piece of paper, Vault Coin utilizes a tamper evident label, which upon removal will destroy the label and leave the word “VOID” on the back of the Vault Coin. This is a simple and elegant solution to ensure your Vault Coin contents are still safe, secure and unspent. And it is far less expensive, which makes Vault Coin far more interesting and accessible to everyday consumers.
When purchasing your very own Vault Coin, you will receive one tamper proof label with your purchase. What makes this label even more interesting is that it ensures you are always in full control of your digital currency. Crypto Vault will never be able to access your private or public keys, as the information is never stored online.
Speaking of price, the Vault Coin comes at the low price of US$15 per piece. However, it is important to note that not every country is eligible for shipping at this point in time. Customers in the UK, US, Germany, Sweden, Canada, Argentina and The Netherlands can order their Vault Coin right now. Additional countries will, hopefully, be supported in the future.
Source: Crypto Vault Shop
Images courtesy of Crypto Vault