Does Your Crypto Wallet Have Airbags?
OK, I know that question in the headline seems crazy, but bear with me. I promise it’ll make sense soon enough.
A couple years ago our founder, Joseph Toh, had some Bitcoin in a hot wallet. Then suddenly, thanks to some very friendly hackers, he had no Bitcoin in that hot wallet. If this happened in a normal bank account, there would be no problem. Either the bank or the government would back it up. And this led Joe to ask an obvious question: “Why isn’t this the case with cryptocurrency?”
Joe’s quest for the answer inspired him to develop the SignKeys Secure Wallet, backing up your wallet threefold through trust, security and risk management.
Trust is imperative in any relationship or environment. Just as you would trust your hand brake to work in an emergency, you would expect your crypto wallet or exchange to be secure in case of breaches. From this perspective, Joe sought out to find the most trustworthy solution available on the market. Arguably, hardware wallets seemed to be the most reliable, particularly when looking at how vulnerable exchanges are. But, he thought to himself, “what if having a trustworthy hardware solution wasn’t enough to be secure?”.
This first realization enabled him to think beyond trust, and into the security aspects of a wallet, which led to SignKeys leveraging the Trusted Execution Environment (TEE) already deployed on over 1.6B mobile devices. In other words, by putting the SignKeys Secure Wallet in the TEE, we put a brick wall between hackers and your crypto, providing FIPS 140–2 based, military-grade security. But, Joe wondered, “just because it’s secure, does it mean you’re free of risk?”.
Here’s where everything starts to make sense.
The answer was clear: Everything has risk. Think of it this way. You may have ABS, traction control and radar cruise control on your car, but you still buy car insurance, right? In a similar vein, Joe thought it was imperative to back up security in order to manage risks. Thus, in addition to providing trust and security through a hardware based solution, we took it a step further with another layer of confidence, the SignKeys Guarantee.
The SignKeys Guarantee
Crypto held in the SignKeys Secure Wallet is guaranteed against breaches in physical security, cyber security, or a failure on SignKeys’ part. We perform penetration tests with white hat hackers and authentication through Crysp to close every gap.
SignKeys is guaranteed against hacks by minimizing risks as much as possible, both in terms of the platform and user behavior (eg. have you accidently doubled clicked when sending crypto to another address? We prevent against that with an alert).
The SignKeys Guarantee provides trust, security AND risk management. We do so by setting aside 25% of the sales of KEYS token as a guarantee pool.
How do I get guaranteed?
Simply hold KEYS at a 10:1 ratio to have guarantee. In other words, for every $100 in KEYS tokens you hold, SignKeys will guarantee $1,000 in other crypto assets you hold in our wallet.
SignKeys CEO Joseph Toh was recently interviewed to talk about the SignKeys Guarantee, what it covers and how to activate it. Watch it below:
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