Gate.io which is a famous crypto exchange firm established in Hong Kong has successfully launched an S1 hardware wallet very recently. The crypto exchange company announced the launching of the hardware on 14th October which was under development for a long time.
Gate.io is one of the top crypto exchange service providers in Hong Kong catering to thousands of customers in and outside the country. It took 2 years for exchange’s tech-team to develop hardware wherein various features for customers’ convenience were added.
A new hardware wallet that can be accessed through fingerprint recognition has been introduced. The hardware is also upgraded to support over ten-thousand different cryptocurrencies. Similarly, the fingerprinting mechanism is capable of storing multiple signatures.
The newly launched hardware is also unique in most of the ways. For example, the hardware is also capable of securing funds of the S1 owner in a unique way. Marie Tatibouet who is the CMO of the exchange told that the password key is kept safe in the software itself. Since the software is not internet-based therefore the chances of losing key to scammers are very thin.
Interestingly the software provides its user more convenience when the user transfers proceeds on daily basis. During the announcement, Tatibouet also told that all it takes is an internet-enabled device – a computer or mobile etc. A user can easily allow transactions to take place by accessing his hardware wallet through a fingerprinting recognition system.
Tatibouet also said that he and his company are confident that the hardware will serve beyond its purpose. Gate.io also apprised that as a next step they want to put this technology for DeFi and for its under-developed project namely Gatechain.
As per the announcement, the starting limit of the hardware is capped at US$50 and the hardware is backed by the wallet.io platform.
There are various other hardware wallets available. Some of the popular ones in the industry are Keepkey, Trezor, Bitbox, Coolwallet, and Coldcard.
Gate.io told that the scammers are becoming more tech-oriented and therefore the number of occurrences is increasing. In order to keep the customers and their funds safe, it is important to develop hardware that can guarantee security.