Every now and then, something comes along in the world of cryptocurrencies which fires up the excitement-engines of even the most skeptical investor/holder/miner/reviewer. Some of these things are major – like Bitcoin’s upcoming Lightning network – others are seemingly insignificant knick-knacks that deliver a set of features which simply make one think: how did we ever make do without this? Digital Bitbox (digitalbitbox.com) seems to match this description to a T.
What exactly is it though? Digital Bitbox is a hardware device that looks much like a regular USB stick, which acts as cold storage for your BTC, ETH and ERC20 tokens, while also fulfilling the role of a software wallet. Indeed, through this inconspicuous-looking device, you’ll be able to send and receive cryptocurrency, while being protected by security features, some of which would go down as downright ridiculous, if they weren’t so darn clever and potentially useful.
While for the time being – as said above – only BTC, ETH, ETC and ERC20 tokens are supported, the manufacturer plans to add more currencies. Users will be able to upgrade their Digitalbitboxes to accommodate the new currencies, by upgrading the firmware of their device. Newly rolled-out features can be added in a similar manner.
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The device comes with a native software client, through which users can interact with their wallet/storage unit and receive/send cryptos as they wish. There’s a microSD included in the Digitalbitbox wallet, through which offline backup and recovery can be performed.
More Digitalbitbox Features
The storage of private keys within the unit is handled by a high security chip, with scores of built-in safety features, that make physical data extraction and tampering extremely difficult.
Two factor authentication is part of the package too, with the help of a mobile phone. By pairing a smartphone with the device, users will be able to verify addresses and transactions.
Needless to say, the whole thing is password-protected, and this is where a really neat little feature comes into the picture, to add plausible deniability to the security-package.
In case a bully/would-be robber/government agency attempts to force the user to open his/her wallet by providing the password, a secondary password can be used to open a “decoy” wallet instead of the real McCoy, one that may be loaded with a few crumbs of cryptos one is willing to sacrifice.
Wallets can be loaded/created on the device through the USB connection, from the computer, on-board, and through the use of the microSD card mentioned above.
To add yet another layer of security, the Digital Bitbox device also features a touch button, which users are supposed to touch for 3 seconds to confirm outgoing transfers. By tapping it instead, they can cancel such transfers.
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The Digitalbitbox system is duly protected against brute force attacks too: after 15 unsuccessful attempts, the system erases all secrets and resets.
Digital Bitbox Price
A Digitalbitbox, with its 4Gb microSD card, costs EUR 54. Add to that EUR 25 shipping, through FedEx Priority Express worldwide, for a total of EUR 79. Those living in Switzerland (where the manufacturer resides) won’t have to fiddle around with shipping.
Depending on the amount of cryptos you want to make safe through this solution, the price may indeed be a very reasonable one.
Should I trust Digitalbitbox?
That is not really a question in this instance. The company behind Digitalbitbox is Shift Devices AG, based in Switzerland. The operation is a subsidiary of ETH Zurich.
The Team page of the Digitalbitbox website contains detailed information on the people behind the product. 5 people are listed there, and their identities do indeed seem to check out.
Red Flags and Question Marks
None.
Complaints
Haven’t found any.
DigitalBitBox Review Conclusion
Digitalbitbox does indeed look like the perfect solution for the almost perfectly safe storage of your vaunted virtual riches. Its price may seem a little steep for someone who only has a couple of hundred dollars worth of cryptos, but for people with substantial funds in virtual assets, it is just right. The fact that the storage/wallet can be backed up to- and restored from the microSD, means that as long as you don’t keep them both in the same location, you don’t even have to fear a house-fire.
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Please leave a comment below if you are able to provide us with any feedback regarding the Digital Bitbox.
Feel free to visit our Bitcoin and Crypto Currency Wallet page for more information and reviews.
I have been using this product for nearly 2 years now. I liked the different approach and above all the small size. However, I occasionally run into software bugs. Nothing too bad if the manufacturer helps quickly. But this time I was unable to transfer any crypto because the iPhone companion program (needed to finally confirm the transaction!) did not work. “Customer support” of shiftcrypto did not reply on 4 mails until today. That is a fat red line in my book. I would not buy anything from them anymore.