Virtually all available wallets require a back-up of the wallet with a 24-word mnemonic seed. The user is asked to write down the 24 random words and then store them in a safe place to be used in the future in the event a wallet is lost and requires recovery. This is a flawed approach and constitutes a potential security breach.
Anyone who is in possession of these 24 words is in control of the funds stored in the wallet. Any time that you write down these words and store them somewhere there is exposure to risk.
No matter how secure the location or hiding place there is a possibility that someone can find the seed phrase and take over the funds stored in the wallet. There is also the possibility of fire, theft, water damage, decay and many other events that can trigger a total loss of funds stored in a wallet.
A truly secure cryptocurrency wallet allows the user to store an unlimited amount of funds without any risk or possibility of loss. And this is exactly what we do in the DigitalBank Hardware Wallet .
The Best Bitcoin and Crypto Wallet 2019 :
Blockchain revolution has allowed hundreds of tech companies to revive their business strategies through implementing smart tech solutions to the products they offer. IBM , MasterCard and many more are just a few of the hundreds of giant tech firm that have recently applied for different blockchain-related patents.
The latest company to apply for three blockchain trademarks is Samsung. The company is one of the largest tech firms in the world, having garnished substantial market shares in mobile phones, TV sets, and even home appliances.
The three trademarks relate to offer cryptocurrency custody services on mobile phones. If successful in this endeavour, Samsung will be creating a digital coin cold wallet on its users’ mobile phones.The application is within European Union jurisdiction and has occurred on the 10th of December, 2018.
The name of the patents is Blockchain KeyStore, Blockchain Key Box and Blockchain Core. While the crypto wallet is a first step in Samsung’s future “crypto strategy”, the company will be facing some strong competition coming from firms such as HTC, for example. HTC new Exodus phone will offer cryptocurrency custody services.
The interesting point is that security can be increased through a “blockchain-enabled” mobile device. As reported by CryptoDaily , mobile phones have some competitive advantage when it comes to protecting the crypto wallet private key because mobile phones possess “TEE (Trusted Execution Environment), which isolates execution from internal memory.”
The DigitalBank Technology is solving urgent issues like : Hacking of Crypto Exchanges and Wallets , the loss of passwords , usernames and relative access keys to Bitcoin and Crypto accounts , and the Loss of Hardware Wallets and Paper wallets .
DigitalBank means Guaranteed Lifetime Account Access. DigitalBank is fully decentralized: No Institution , No Physical Address , No servers , No data storage :100% Paperless . 100% Nameless
DigitalBank is the safest Cryptocurrency “wallet “available: the only Real Safe Haven of Bitcoin and Crypto Investors with a full scale cryptocurrency exchange , for trading securely all major crytocurrencies
The DigitalBank is the real solution to millions of people seeking private secured and ultra confidential online banking .
The DigitalBank is the only real solution to cash Bitcoin riches .
With the DigitalBank technology your crypto money is safer than in any bank vault on earth .The private key is never stored on the device itself and is never transmitted anywhere so there is no risk that someone can obtain information through forced entry.
Even if your DigitalBank Vault Device, is seized or stolen, there is nothing that anyone can do to extract the private keys because they are not on the device in the first place. If the DigitalBank device is taken apart and forensically analyzed the private keys cannot be retrieved .