1inch, a DEX (a decentralized exchange) aggregator has introduced its crypto hard wallet.
Following the downfall of FTX and an increasing number of crypto scams and hacks since 2022, more people started to invest in crypto storage methods that are more secure. Suppliers of hardware wallets such as Ledger, Trevor, or Hito noticed an increase in sale volumes as a result of several crypto investors choosing to store their own assets.
That’s the reason stated by 1inch as standing behinds its decision to introduce its crypto hard wallet. Reportedly, the wallet was developed by a team that’s active deep in the crypto security system. The wallet is reportedly air-gapped to increase protection and comes with no electrical connections or buttons. Furthermore, it provides cold storage, meaning that it has no online component either. However, data is transferred via QR codes and NFC technology.
Requiring a signature for open transactions to avert unwanted entries to the wallet, the product can inform its users of any compromised transactions. Simultaneously, the company states that transactions are processed on the net. Users have the opportunity to operate more than one wallet, each coming with a unique code and seed phrase. Thin and small, the wallet has a reported weight of 70 grams and resembles a credit card.
