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The DigitalBank Solution is better than any Cold Storage or Paper Wallet
Disadvantages with Cold Storage Services :
Since it is a dedicated computer for storing cryptocurrency that has never been connected to the internet there is no possibility that the machine can be hacked.
If the device is seized or stolen and taken apart, forensic analysis can recover private keys. The air gapped computer only provides protection if it can be kept safe in the local environment.
Requires a high level of technical skill. If a strict protocol is not followed funds can be lost.
If computer is seized, lost or stolen the funds stored on this machine are likely permanently lost unless a back-up was made. In this case the back-up itself is a security risk depending on where it is being stored.
User must rely on keeping their “air gapped” machine safe at all times and in their possession. Without the machine funds cannot be retrieved.
Very difficult to operate when funds need to be moved. User error can cause funds to be lost.
Many identified weaknesses and attack vectors that make this solution prone to security risks.
Very high cost and many security weaknesses.
Disadvantages of the Paper Wallet :
Requires the user to follow a careful protocol when creating paper wallet to insure information is not intercepted online, over WiFi, and in the local memory of printer. This must be repeated for every currency.
Document can be lost or stolen. Can also be destroyed in a fire or flood and if there are no back-ups funds are permanently lost.
Need a separate paper wallet for every currency.
Is only useful for long term storage and cannot be reused. Once funds are sent out of paper wallet a new one must be created each time.
Requires a complicated procedure to move or spend funds in paper wallet. Sweeping wallet can expose your private key. Risk of losing funds.
Private key is exposed unless the paper wallet is encrypted. Private key can also be exposed during set-up.
Risk of using a spoof or phishing website with malware. Attacker can steal all funds from wallet.
Free but difficult to use with multiple security weaknesses.
The Advantages of the DigitalBank Crypto Platform :
The DigitalBank device does not store and has no way to store private keys, therefore an online attack is not possible.
If the DigitalBank device is seized or stolen, taken apart and forensically analyzed the private keys cannot be retrieved.
The DigitalBank device requires no technical skill at all. Impossible to lose funds due to user error.
If the DigitalBank device is seized, lost, or stolen the funds are completely safe. User can just order a new device and continue the use
User can access their funds at any time, even years later. It doesn’t matter if device is lost or missing.
Using the DigitalBank device, is very easy to operate through an intuitive interface. As easy as sending an email.
No way for attacker to access funds stored by device either online or locally.
Very low cost and no security weaknesses, easy to use.
Takes minutes to set-up the DigitalBank Account , and will support an unlimited number of cryptocurrencies and crypto assets. Following simple steps, there is no risk of compromising security during set-up.
The DigitalBank Device is equally convenient for long term storage and frequent daily transactions. Security is never compromised.
Sending funds is as easy as sending an email and requires no technical skill or complicated steps.
Private keys can never be exposed and are not stored anywhere, ever.
No possibility of attack since user never has to download or install anything at all to use the DigitalBank Device.