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.
https://medium.com/@walletio/gate-io-hardware-wallet-wallet-s1-launched-2e65ce2b904c
Gate.io's Wallet S1
(Gate.io/Wallet.io)
  • 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.

Also read: Gate.io, Huobi Enter Booming Crypto Options Scene

Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.