American startup VaultTel presented a tiny hardware cryptowallet, which should inserted into a slot for a SIM-card of mobile phones, Finance Magnates reports.
According to company representatives, the new device combines the VaultTel App and a special chip, the task of which is to store private keys on devices that support biometric authentication systems.
Biometric authentication provides interesting feature - transactions on a smartphone can be performed only by its owner. Also, as an additional security measure, users can link a chip to a single device or a specific region.
The solution uses the AES 512 block encryption algorithm, while on most cryptographic platforms, AES 256 and lower are used.
The device is already available to US residents for pre-order: the VaultTel version for Android costs $ 98, the iOS kit costs much more - $ 131. According to representatives of the startup, soon residents of EU countries will be able to buy a new device.
In January Ledger introduced a hardware wallet with Bluetooth support, which is an improved version of the popular model Nano S.