Bitfi and McAfee Announce First Truly Unhackable and Open Source Crypto Wallet
Bitfi Wallet assures impenetrable security with download-free and wifi-enabled operation, allowing users to participate in the digital asset economy without any risk of loss.
June 19, 2018 13:02 ET | Source: Bitfi
Miami, FL, June 19, 2018 (GLOBE NEWSWIRE) — Bitfi (https://bitfi.com/), a global payments technology company working to enable businesses and consumers to participate in the digital currency economy, today announced Bitfi Wallet – the first unhackable, open source hardware wallet with an accompanying dashboard that features wireless setup and support for many popular cryptocurrencies and crypto assets, including Monero, a fully decentralized private cryptocurrency that has previously never had a hardware wallet solution.
Shortly after making a pre-launch introduction to a few insiders in the blockchain landscape, John McAfee, the preeminent expert on cyber security, acknowledged that Bitfi technology is indeed unhackable – a bold claim that has never before been uttered in the archives of tech history. Mr. McAfee has joined the Bitfi team as the company aims to accelerate adoption of decentralized assets by making interaction with these assets seamless and without risk. Bitfi technology is pivotal in advancing this goal.
“Of all today’s elaborate and sophisticated methods for making wallets secure and easy to use, surely none is as epic as that of the new Bitfi wallet. Several of my competitors have pioneered innovative methods to protect private keys, but Bitfi pulled out all the stops to ensure that the private key can never be obtained by illicit means. No other hardware wallet has ever been built to this level of sophistication,” said John McAfee, a foremost cyber security expert and founder of McAfee Antivirus.
The Bitfi Wallet offers more security than any other type of storage (including cold storage) without the need for technical skill, downloads or app installations to set up, requiring only a wireless connection. Once the wallet is set up, the device automatically receives the latest software updates thus completely eliminating any possibility for a user to download corrupt software or fall prey to phishing attacks. As Bitfi adds support for additional cryptocurrencies and crypto assets, they will automatically appear in the wallets of all users. In this way, a single purchase of the hardware wallet guarantees that wallet holders always have access to its latest technology and updates, making Bitfi Wallet a secure, long-term investment.
“The radically innovative Bitfi wallet, grew out of desperate need to find a completely secure and convenient storage solution so that we could drive rapid adoption of decentralized blockchain assets,” said Daniel Khesin, Co-Founder of Bitfi. “Intimately involved with the cryptocurrency revolution, we sought to develop the ultimate instrument that would be the last word for the problems of storing and interacting with cryptocurrency and other digital assets. Early prototypes so astonished various users (like John McAfee) who share our passion for cryptocurrency that, through simple word of mouth, many crypto enthusiasts were soon clamoring for a Bitfi wallet of their own. This demand led to our formation and the filing of numerous patents for over two dozen breakthrough features.”
While most wallets store a 24-word memory key to access funds, the Bitfi Wallet allows wallet holders to store an unlimited amount of funds, without possibility of loss or theft, by utilizing a proprietary and open-source Bitfi algorithm that calculates the private key with a powerful onboard CPU from the user’s own unique secret phrase. The private key only exists for a fraction of a second, just long enough to approve the transaction and is never stored anywhere. The user- created phrase is impossible for others to guess but easy for the wallet holder to memorize.
Unlike other wallets, the Bitfi wallet cannot be tampered with. If it is ever lost, stolen, taken apart and forensically analyzed, the private keys cannot be retrieved, making the wallet safe to purchase from anyone within the network of authorized distribution dealers. Because the Bitfi algorithm is completely open source, users can easily obtain their private keys without any reliance on 3rd parties, including Bitfi itself. Furthermore, instead of having to access each currency from individual folders or multiple wallets, users can view and control all of their digital currencies and assets in one place via the Bitfi dashboard.
The Bitfi Wallet enables users to view all balances at a glance and quickly switch from one cryptocurrency to another, whether for personal or business use, much like using an ATM machine. Bitfi Wallet also features native support for Ethereum, allowing users to view both their Ethereum balance and access tokens in one place rather than using third-party services.
“The Bitfi Wallet is the result of experiments with the most advanced circuit topologies, components and materials derived from state-of-the-art theory and practice in many fields,” said Khesin. “It is the result of our strenuous commitment and single-minded dedication to advancing the universal adoption of the decentralized digital asset economy in everyday life, for everyone.”
The Bitfi Wallet will go on sale for $120 USD and purchase includes a one-year limited warranty. Units will be available for purchase starting June 25th, 2018 with shipments beginning June 27th, 2018.
For more information on Bitfi, please visit https://bitfi.com/.
About Bitfi: Bitfi is a global payments technology company working to enable businesses and consumers to participate in the digital currency economy. Bitfi has pioneered numerous innovations, including the breakthrough Hardware Wallet, a truly unhackable, open source hardware wallet for cryptocurrency and crypto assets. Users can access the wallet using a secret phrase that calculates private keys, which do not have to be stored on any hardware or software.