1inch Hardware Wallet FAQ

As the days roll by, we’re edging closer and closer to the big release of the 1inch Hardware Wallet. Our community is growing, and, naturally, we’re seeing more and more burning questions pop up left and right. So, we’ve rounded up top FAQs for your convenience.

• How does 1inchHW differ from other hardware wallets?

Multi-seed functionality. You can import and use multiple wallets simultaneously on a single device. Avoid artificially restricting yourself to the notion that one seed equals one device at a time. You wouldn’t need to purchase additional devices if you have several wallets. All seeds are stored safely on a security chip.

User-friendly design. The 1inch Hardware Wallet boasts a compact, wireless and waterproof design with a large touch screen for ease of use. It is also highly durable, featuring impressive drop resistance and protection against scratches and sharp contact damage.

Also, 1inchHW is equipped with an E-ink display, which offers excellent UI design and UX and ensures rapid screen response, as well as prolonged battery life. Plus, it allows to add pictures and customize the device.

Transparent signing. To enhance security, 1inchHW conducts transaction parsing and call data analysis. This provides users with detailed transaction information, including protocol details and potential address status, helping to prevent fund theft.

Open-source. As part of its commitment to transparency and security, the 1inch Hardware Wallet will be open-source. This means that users can verify both firmware and hardware libraries, thus ensuring the integrity and reliability of the wallet.

• Does the 1inch Hardware Wallet team have any connection with the 1INCH token?

The 1inch Hardware Wallet team functions autonomously and focuses exclusively on hardware wallet development. We have no association with the 1INCH token.

• How can I back up my seed phrase, and is there anything special about it?

We prioritize the security of your assets. With 1inchHW, you can back up your seed phrase using our unique NFC backup feature, including Shamir backup. This adds an extra layer of protection, allowing you to securely store and recover your wallet information.

The ultimate decision rests with the user, but we offer a wide range of backup solutions, including traditional seed-phrase backups (on paper or metal), Shamir backup, and NFC backups for both options, thereby offering the user a “seedless” backup solution, as well.

• How is the seed phrase generated? Is there a specific process in place?

At 1inchHW, we utilize a truly random generation method. This involves gathering random data from various sources to ensure that the seed phrase is genuinely unpredictable and secure.

The user can contribute to generating entropy through various sources. Additionally, we offer the user the option of a passphrase, thereby adding an extra layer of protection.

• How do transactions occur?

1inchHW will have an air-gap mode. Moreover, we’re actively engaged in the development of an NFC signing functionality to bolster both the user experience and the robustness of the wallet’s security features.

• Does 1inchHW support BTC?

We aim to create a hardware wallet for DeFi purposes, which is integrated with the 1inch Wallet. It currently supports WBTC, and BTC on the Bitcoin chain will be supported in the future by our hardware wallet.

• When will 1inchHW be released?

We’re planning to release our hardware wallet in 2024. Stay tuned for announcements regarding the official release date.

• What will be the price of the hardware wallet?

The pricing is still under consideration; however, it is expected to be higher than our competitors’ current non-flagship devices yet more affordable than the upcoming next-generation flagship devices. Our aim is to provide a competitive pricing structure that reflects the advanced features and security measures integrated into our hardware wallet.

• What advantages do early birds on the waitlist get?

We have numerous perks available for early adopters! From exclusive offers and prizes to first dibs on beta testing, joining the waitlist gives you a chance to not only be one of the first to grab the hardware wallet but also help make it even cooler. Check out our article about it here.

• How can I participate in the beta testing program?

To participate in the beta testing program, please fill out this form. We will contact you in case of our mutual match.

• How can I explore partnership opportunities with 1inchHW?

To initiate a partnership process, kindly complete this form to share details about your company/organization and any partnership proposals or services you can offer.

• Where can I send my ideas for improving 1inchHW?

We believe that when our users are involved in decision-making, we end up with a better hardware wallet that truly hits the mark! Join our Telegram chat to discuss all things about 1inchHW.

• What customer support options will be available?

Currently, we are exploring the integration of a customer relationship management system alongside round-the-clock support. Our goal is to provide accessible and responsive support channels to assist you with any questions or issues you may encounter.

• Where can I find more information about 1inchHW?

For the latest updates and information about 1inchHW, be sure to follow our official social media channels and visit our website regularly.

Website: https://hw.1inch.io/

Twitter: https://twitter.com/1inchHW

Discord: https://discord.gg/eFudQjaemy

Telegram Announcement Channel: https://t.me/OneInchHW

Medium: https://medium.com/@OneInchHW

LinkedIn: https://www.linkedin.com/company/hwlt