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Blockchain Industry News

Blockchain Startup VaultTel Launches Crypto Wallet Chip for Mobile Phones

VaultTel, a startup based in the United States, launches a hardware cryptocurrency wallet so tiny that it can fit your mobile phone’s SIM card tray.

The VaultTel Card

The product consists of an app that you can download to use it and the hardware chip, called the VaultTel Card. This chip can store private keys on your mobile phone and uses biometric authentication and AES 512, an advanced encryption standard. Users can associate it to a single device and enjoy its geolock features that will block access to particular areas.

The VaultTel Chip

Customers can start storing funds by inserting the chip inside an unused SIM card slot if the mobile phone has dual SIM features. Otherwise, users can connect the VaultTel card to their phone using external accessories like a dongle. Stored funds then may now be monitored using the designated mobile application.

The company claims that the wallet uses the latest Bitcoin security standards and can store most crypto assets.

VaultTel Joins Samsung

VaultTel is not the only one innovating in launching crypto wallets. Samsung, the South Korean tech giant, has recently launched its Samsung Galaxy S10. The said smartphone features a digital wallet that supports different crypto assets such as Bitcoin, Ethereum and Enjin’s token.

In January, Ledger has its own share in the game – the Ledger Nano X. This Bluetooth-based crypto wallet is compatible with the majority of the tokens available in the market.

Starting today, VaultTel will be sold in the U.S. and will soon be available to European countries via VaultTel’s subsidiary in the United Kingdom.

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