By A U.S-based startup called VaultTel unveiled a hardware crypto wallet which is designed to fit into a mobile phone SIM card slot according to a press release from the company which was released on the 6th of March.
The technology combines a mobile app with a hardware chip and has been dubbed the VaultTel Card. This crypto storage solution will be sold in the U.S from today and will “immediately expand” to countries in the EU via the UK VaultTel subsidiary.
The wallet uses biometric technology for authentication as well as a military-grade encryption standard – AEX 512 according to the press release.
Furthermore, VaultTel has revealed that the VaultTel Card can be locked to a single device and to a specific geographical location.
To store crypto funds, users can either insert their VaultTel card into a free SIM card tray – if they have a phone with dual sim capability or it can be connected to a mobile phone by means of an accessory, for example, a dongle. The abovementioned app will allow users to interface with stored crypto funds.
This is hardly the first time a crypto hardware wallet has been announced. Back in February, Samsung officially announced that the Galaxy S10 will include a digital wallet and in January Ledger also unveiled their Bluetooth-based wallet the Ledger Nano X.
The future is looking bright for mainstream adoption of cryptocurrencies and the advent of crypto hardware wallets is yet another outstanding sign of the times to come.
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