Exclusive Q&A with CryptoCards: Offline Wallets
If you don’t know what Cryptocard is, they are a company that develops high quality offline wallets. They make also public wallet that allow you to receive payments,and ones that allow you to just store funds, commonly known as “cold storage”. Note these are not to be confused with Bitcoin credit cards such as a service like OKpay which allows you to basically do all transactions with Bitcoin. Supported currencies right now are listed below, with new currencies being adopted. Levi, the Mangaing Director over at Cryptocards was gracious enough to take the time out of his day to answer a....
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Even with all the encryption and multi-sig security features offered by most bitcoin wallets, some instances of theft have still been reported due to online storage. KeepKey now offers a way to store bitcoin offline through an actual hardware wallet. This private bitcoin vault is available for $239 on the KeepKey site or Amazon and comes with a USB-connected device. This can work with existing bitcoin wallets and takes over the management of private key generation, storage, and transaction signing. Offline Bitcoin Wallet. To set the offline bitcoin wallet up, users need to install the....
Cryptocards have opened up a new set of customers for the electronic payments sector as it offers them a way to spend their cryptocurrency at any place that accepts card payments. The electronic payments sector is a huge industry that is growing at a rapid pace. The growth of population increased spending power combined with multiple payment options has been the greatest contributing factor for its growth over the years. The advent of cryptocurrencies opened up a whole new section of electronic payments waiting to be capitalized upon by the credit/debit card issuers, payment processors and....
Bitcoin security has been a focus as of late, with BitStamp losing five million dollars of Bitcoin after being hacked. As a result, many Bitcoiners suggest not using exchanges to store Bitcoin. Instead, offline options, which have never touched the internet, are considered the most secure options for storing Bitcoin. Cold storage, storing your Bitcoin offline, is usually considered the most secure way to store your coins. However, it can be complicated to set up. One alternative is hardware wallets, which are devices similar to portable hard drives, but store Bitcoin. These wallets also....
Digital currency exchange service ShapeShift is offline after a security incident earlier this week. A statement posted to Reddit by ShapeShift CEO Eric Voorhees offered more details as to why the site was taken offline, indicating an unknown quantity of funds had been taken from the service’s connected wallets. Customers with pending orders would receive their money within 24 hours, the company said. Voorhees wrote: "Yesterday afternoon, we noticed several pieces of evidence indicating our server infrastructure was compromised and threatened. We made the decision to scrap that....
One of the challenges of storing bitcoin securely is finding the appropriate tradeoff between security and convenience. On one end of the spectrum, hosted online wallets make it super simple to store your bitcoin online and access them from any computer by logging in with a username and password. However, this means that your account can be compromised easily by an attacker who learns your email and password. This also means that you must trust your hosted wallet provider to offer appropriate security measures. On the high-security end of the spectrum, paper wallets allow you to store....