Bitcoin enthusiasts around the world will know that when it comes to protecting your digital wealth, security is always a topic of debate. Even though we have several methods to protect our Bitcoin wallet, whether it’s a QT, lite or web wallet, you can never be secure enough. eCoinConcepts will be using Kickstarter to fund production of a three-tier Bitcoin hardware wallet.
This three-tier Bitcoin hardware wallet, called BitStash, is the first of its kind. By making the product bluetooth accessible, and encrypting the date on the device itself, secure Bitcoin transactions from desktop and mobile with true cold storage are on the horizon.
BitStash is designed to meet the Government’s highest standards for data security, while making owning and spending Bitcoin secure and simple for everyone. Plug the BitStash in, download the mobile or desktop app and after being guided through the simple setup process, you are good to go.
The reason why BitStash is a three-tier Bitcoin hardware wallet is because three tiers of BIP32 crypto currency wallets are being generated, thanks to the usage of entropy generated by atmospheric noise.
As a result, you end up with a mobile wallet for spending on the go, a device wallet for day-to-day trading or online shopping, and a cold storage wallet for secure storage. The implementation of BIP70 payment protocol support and easy-to-use wallet software guarantee stability and usability. Wallets will be rebalancing between one another to always show the correct amount of spendable Bitcoins.
“Existing best practices for Bitcoin are too complicated for mass user adoption, and online storage solutions have too many risks. What we’ve created is a new, easy-to-use global solution that involves absolutely no third parties with government-grade security features like tamper detection and self-destruct circuitry.”
-Trevor Murphy, BitStash CTO
The BitStash product came to fruition as a result of a collaboration between Steven Swanson and Trevor Murphy, two Wall Street veterans. As of this writing, all aspects of the prototype have been completed, and beta versions of the software are available. The crowdfunding through Kickstarter will help pay the initial manufacturing round , as well as the completion of FCC and FIPS 140-2 level 3 certifications,
Even though the Kickstarter campaign will start on October 22nd, you can also place a BitStash pre-order on their website, and pay with Bitcoin! Furthermore, eCoinConcepts hopes to raise at least US$50,000 through Kickstarter.