Cobo Vault: Cold Storage for the Dedicated Cryptocurrency Investor
The most prominent concern plaguing the serious cryptocurrency investor today is security. With the entire system being totally decentralized, reversing a transaction is impossible; and if you lose your cryptocurrency, it is absolutely irretrievable.
Situations such as these can quickly become an investor’s nightmare, but they also emphasize the importance of a comprehensive and hack-proof solution for securing your digital assets!
While it is true that your coins are not tangible and you don’t exactly physically own them, you do own your “private keys”, and that’s what you must protect. Your private keys are used to sign transactions, trade and spend your coins. Therefore, whoever controls the private keys of an account, controls the cryptocurrency stored in it too.
If you are a serious long-term investor, store multiple coins, and want the highest level of security, then you must consider using a hardware wallet. It is not connected to the Internet making it absolutely secure to store your cryptocurrency. However, not all hardware wallets are built the same, and it is essential to select one that is a good fit for you. Some of the criteria you might want to look into when investing in a hardware wallet are the security features, the coins they support, and an active support team in case the need for maintenance arises.
At Cobo, we believe that hardware wallets are the solution to solve the security concerns around cryptocurrencies. However, when it comes to the serious cryptocurrency investor, we also know that not just any hardware wallet will do: only solutions that offer all-around protection from digital hacking, hardware tampering, and physical damage will work. And that is exactly what the Cobo Vault does.
Launched on October 18, 2018, and successfully retailing on Indiegogo for close to a month-and-a-half, the Cobo Vault takes security to a whole new level with its military-grade outer casing and water-resistant aerospace metal body!
It is all about protecting your private keys!
The device is completely air-gapped with no WiFi, bluetooth, NFC, or USB capabilities preventing any form of network attack, and ensuring that your transactions and private keys are secure at all times.
The firmware of Cobo Vault’s bank-grade encryption chip has been coded from scratch to ensure maximum security of the private keys at all times — this is the safest possible means of safeguarding your keys from potential hackers. The device has a magnetically detachable battery to avoid corrosion. Transactions on Cobo Vault can be made via scanning a dynamically changing QR code. Multi-signature capabilities add an additional layer of security to every transaction.
This is a hardware wallet for the serious cryptocurrency investor!
The Cobo Vault’s most outstanding feature is its built-in self-destruct mechanism. Since the device is completely air-gapped, the only possible alternative for a hacker is to cut through the screen. At this point, the device senses some form of hardware tampering and the self-destruct mechanism is triggered. The encryption chip is wiped clean, leaving nothing behind for the hacker to hack.
The Cobo Vault also supports the hidden vault feature. If the owner is forced to unlock their device, by default the attacker will be able to view a hidden vault which has only a minimal amount of cryptocurrency. An unlimited number of hidden vaults can be created, making it impossible for an attacker to be sure if they are being shown the real wallet.
That’s not all, a custom-made metal tablet to store your mnemonic phrase is included in the box!
Currently, the Vault supports BTC, ETH, BCH, DASH, LTC, ETC, TRON, and EOS, as well as tokens on ETH, TRON, and EOS. Cobo plans to add new coins and tokens regularly as part of their development roadmap.
The Cobo Vault sets a new benchmark for hardware wallets and is especially designed for investors who prioritize the security of their investment above everything else. The Cobo Vault is a stronghold, can survive almost anything, and is the most secure hardware wallet on the market today!
A word of caution though — always buy the wallet directly from the company or from an authorized reseller to avoid tampering and fraud.
Of note, Cobo also manufactures software wallets, the Cobo Wallet offers Proof-of-Stake and rewards on user holdings, enabling them to grow their digital assets effortlessly.