Gate.io, a cryptocurrency exchange, has unveiled a pocket-sized solution for crypto holders concerned over the security of their assets.
- In an emailed press release Wednesday, the company announced the launch of a new hardware storage device, dubbed the Wallet S1, initially for the China market.
- Describing the device as a "professional" hardware wallet, the firm said the S1 is still simple to use and offers a built-in display with fingerprint recognition.
- Six centimeters long, the S1 is said to be able to securely store over 10,000 crypto assets, such as bitcoin and ether – the two top coins by market capitalization.
- A hardware wallet is a dedicated device that allows users to store the private keys to their cryptocurrencies in an environment away from the internet where hacking is rife.
- S1 users are able to synchronize the device to a laptop or Android smartphone and use its fingerprint recognition feature to authorize transactions.
- It is the "first hardware wallet with a world-leading fingerprint recognition algorithm which can auto initialize when detecting brute-force attack,” Marie Tatibouet, Gate.io's chief marketing officer, said in the announcement.
- For pro investors or enterprises with larger stores of crypto assets, the device can be linked to a GateChain Vault address, further boosting security, the company said.
- Pricing is around $50 per unit, with sales expected to expand to countries outside China in the next three to four months, the company told CoinDesk.