There are never enough Bitcoin hardware wallets to choose from, even though there is some fierce competition in this market segment already. Companies such as TREZOR, Ledger, and BitLox are all vying to become the market leader in physical Bitcoin wallets, and new enterprises are emerging as well. Digital Bitbox is one of these new contenders, and they focus on making their solution portable, open source, and supporting mutisignature.
Also read: Petya Bitcoin Ransomware Targets Enterprises
Up until this point, there are very few physical Bitcoin wallet offerings supporting mutisignature. After all, it does not make immediate sense to require multiple keys for sending transactions when using a device usually owned and used by just one person. Then again, multisignature support could make sense for companies, startups, and groups of Bitcoin enthusiasts working on a collaborative project.
What makes the Digital Bitbox offering so interesting is not just the multisig support, but also how they are focusing their attention on the right aspects. Private keys are never broadcasted to the computer or the Internet, which has become a standard among physical Bitcoin wallet providers these days. Additionally, the device has an on-board SD card, which can be used for wallet backup and recovery.
But that is not all, as the Digital Bitbox uses external entropy to offer additional security. Entropy is added through random bytes during the factory installation, removing the need to trust the company creating the device. Moreover, additional entropy is added when users enter their device password. Usage of the device can be further protected by two-factor authentication, and all communication via USB is encrypted with AES-256-CBC.
This minimalistic wallet design will be greatly appreciated by Bitcoin users, as there is no screen involved. Moreover, there is a small hole in the wallet to add it to one’s keychain, adding to its portability factor. With a durable case to support the internal hardware and software under the hood, there should be no concerns about bumping this device against a rough surface when it sits in one’s pocket.
Last but not least, there is the topic of what would happen if someone lost their Digital Bitbox, or has it stolen. Every device is protected by a password, which prevents assailants from stealing the coins. Moreover, the addition of 2FA makes it even more difficult to retrieve funds. Although there can be 15 attempts to find the right combination, the device will erase all secrets and reset completely to prevent further brute-force attacks.
Purchasing a Digital Bitbox can be done through their online shop, at the price of US$120 each. A Micro SD card will be included free of charge during the limited beta sale, and free shipping will be added as well. Payments can be made in Bitcoin, or by using a credit card through Stripe.
Source: Digital Bitbox
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