If you’re paranoid about your Bitcoin, there’s a new wallet in town and this one is like Alcatraz for your digital currency.
It’s no wonder people have been stressing over their digital money – especially with the likes of Mt.Gox and Bitstamp both suffering serious security breaches.
But with Case, you can ease your mind, as Tech Crunch’s (opens in new tab) new report say the device is “an insanely secure hardware bitcoin wallet”.
Case (opens in new tab)is a small credit card-shaped device with a fingerprint sensor, a screen, a camera, a built-in GSM chip and a couple of buttons.
In order to make a transaction, you press the bitcoin button, scan the QR code with the camera and swipe your finger. That’s it – no logging in or smartphone apps. You can even buy and sell bitcoins from the device.
“There’s no easy and secure way to use bitcoin. You’re either getting security, or you’re getting ease of use,” co-founder and CEO Melanie Shapiro told Tech Crunch. Case wants to provide both - security and ease of use.
Case bases its security on two signatures. When you first start your Case device, you generate a private key on the device itself, and this key will stay on your device forever. As Shapiro says, the device doesn’t create the key.
“Case also stores a key in its encrypted online database. Transactions are only signed by the server if the fingerprint scan matches your biometric data,” Tech Crunch says.
The device will cost $199 (£131) and will ship this summer after more than a year of hard work.
“We’ve seen a lot of hardware flops,” Shapiro said. “We wanted to be able to build the entire thing - the software, the firmware, the hardware. We are at that point now where we feel confident accepting pre-orders.”