9 unique features of the BC Vault hardware wallet covered by YouTuber Crypto Casey
We will summarize her youtube video in the article – everything that BC Vault, the best crypto hardware wallet, has to offer and compare it with other devices like Ledger in Trezor. Namely, BC Vault is unlike any other cryptocurrency hardware device on the market right now. According to a Forbes quote, it belongs to a few solutions that have had zero security incidents.
Also, it’s the best-rated hardware wallet on the market, based on user reviews on TrustPilot! We can confidently say that BC Vault is the best crypto hardware wallet.
Here are the 9 features of the best crypto hardware wallet that Crypto Casey covered:
1. Display & directional pad
One of the major challenges many people face especially beginners when managing cryptocurrency is unknowingly making a simple irreversible mistake like sending cryptocurrency to the wrong address. Most of the hardware wallets on the market have small screens that don’t show the user a lot of information. The BC Vault team realized many of these mistakes can be avoided by providing all the information to the user on a larger screen.
So, BC Vault features a two-point four two-inch LED 128 by the 64-pixel display that’s able to show all the important transaction details on the screen to protect the user from error. The display shows the full sender and recipient addresses, the wallet name, amount of cryptocurrency, and fees including warnings about unusually high transfer fees. BC Vault also features a 4-way directional pad that enables easy navigation and improved response for users.
2. Proprietary tech vs open source
Unlike many of its competitors BC Vault does not use open source policies instead they use their own proprietary technology. Ledger and Trezor wallets have open source policies and hackers have exploited their vulnerabilities by creating fake clones and so forth. BC Vault team believes that open source is overrated and just means exploitation will be discovered sooner and usually not by hackers trying to enhance or help the technology feature.
3. One app for all cryptocurrencies
Probably one of the best features of this wallet, if you have a wide variety of cryptocurrencies, is that BC Vault offers native support for all of its supported cryptocurrencies in one single application. While Ledger and Trezor rely heavily on third-party software applications for most of the cryptocurrencies they support. BC Vault supports all of its cryptos on one software application and is the first device to support native storage for all ARC 20 tokens of which more than 200,000 exist today. This also includes seamless use of segment and legacy addresses within each Bitcoin wallet. The Bitcoin cash wallet can switch between the legacy address format and the new cache address format as well.
4. Private key generation
Devices like Ledger, Trezor, and similar use what’s called the BIP 32, 39, and 44 standards. BIP stands for Bitcoin improvement proposal. Since Bitcoin has no formal governing structure or central control group a BIP or Bitcoin improvement proposal is a process that was created as a way for people to contribute information about Bitcoin or introduce new features to the Bitcoin protocol.
Cryptocurrency wallets can have multiple private keys that access different cryptocurrencies and each cryptocurrency wallet have one seed. The seed can be used to access all your private keys. So many cryptocurrency hardware devices use BIP 32, 39, and 44 for standard to generate deterministic wallets. BC Vault generates non-deterministic wallets instead of deterministic wallets. Basically, BC Vault acts as a true random number generator or RNG and uses non-deterministic algorithms to create private keys. So instead of the wallet seed having a parent-child relationship with each private key, BC Vault wallet seed had no traceable relationship with any of the private keys is generated.
This means that none of the private keys generated on your BC Vault could ever be traced back to your BC Vault seed. BC Vault can generate over 2,000 individual non-deterministic wallets. Every private key generated is completely independent of one another which means that no two private keys in your BC Vault can be mathematically linked. So, if your wallet or any private keys get compromised, they cannot be traced back to any of the other private keys on your device or your wallet seed.
By comparison, most of the other cryptocurrency wallets use deterministic wallets which means that any compromised private key can be traced back to your seed thereby exposing all of your wallets’ private keys due to the parent-child relationship the private keys have with your seed.
5. Private key storage
BC Vault’s private keys are stored in FRAM. FRAM stands for ferroelectric random access memory. It basically functions the same as flash memory but has a thousand times faster throughput while consuming 250 times less power than flesh. The chip BC Vault uses prevents the wallet from exposure to potential malware on connected devices like your computer and it also guarantees reliable data storage for over 200 years at 35 degrees Celsius or 95 degrees Fahrenheit.
All the different cryptocurrency wallets on most mainstream hardware devices like your Bitcoin wallet versus Ethereum wallet can be traced back to one seed phrase and the companies that sell these devices are able to track and link users to their devices. Most hardware wallet companies also have the capacity to track devices due to unique private keys sent to their hardware security module every time the device is used. Also, secure chips in most hardware wallets have serial numbers that are used to check the authenticity of the devices which could also be linked to users by their shipping address when ordering the device. BC Vault combats these issues with complete anonymity. The device has no serial number, and the company doesn’t track any data that would link a device to its user.
7. Encrypted backups
BC Vault has advanced seed protection protocols. Most cryptocurrency hardware wallets encrypt the private keys and protect the private keys with a password. However, the same hardware wallets generate an unencrypted seed recovery phrase for the user to store on a few pieces of paper. So even though the private keys that access your cryptocurrency are encrypted, the seed or recovery phrase that can be used to gain access to all your private keys on a new device is not encrypted. What mini cryptocurrency hardware wallet manufacturers don’t tell you is that expense doubles when acquiring a separate device for safe seed storage.
With BC Vault your backups are encrypted by default. So instead of having a single unencrypted recovery seed, each wallet can be backed up individually on an unlimited number of secure memory cards or in the form of printed QR codes. Each BC Vault device comes with a one-gigabyte microSD card for backups. The best part – since the backups are encrypted you can print out as many backups as you want and give them to your friends and family.
8. Pins & passwords
When using a device like Ledger there’s a password to access the computer application, a pin code to unlock your device, and if you have any cryptocurrency that uses third-party software that likely requires a password as well. With that, you would be able to transfer all your cryptocurrency whenever you want. Now let’s check out BC Vault.
The computer application allows for a password and this password can be an unlimited number of characters. The device allows a pin that’s entered on the device’s directional pad and can be in any directional sequence. Once the device is unlocked it’s just that – unlocked. When you navigate to any one of the cryptocurrency wallets on the device, the computer application allows for a password per wallet and the device allows for a pin code for each wallet. This means if you enable all of BC Vaults password capabilities, you would need to input up to 4 different codes to authorize a transaction.
This allows a single BC Vault device to be used among friends and family, where all users know the computer application password in the device pin while having their own separate wallet passwords and pin codes to access individually. If you would rather live life on the edge, you can choose to not use any passwords at all. This means BC Vault offers the possibility of having anything from zero to four codes to confirm transactions and each wallet can be configured differently. You can read more about BC Vault security features here.
9. The bounty wallet
Every BC Vault device comes pre-loaded with a private key that corresponds to a public address containing a little over one whole Bitcoin. The BC Vault team calls this a bounty wallet and encourages users to perform black-box security testing on BC Vault devices. Anyone who is able to breach their bulletproof encryption can take Bitcoin as a prize.
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