Crypto wallet startup Blockchain has partnered French hardware wallet maker Ledger to develop an exclusively compatible hardware wallet to integrate with its existing online wallet. The wallet provider currently supports Bitcoin (BTC), Ether (ETH) and Bitcoin Cash (BCH).
The custom hardware device called the “Blockchain Lockbox” will allow Luxembourg-based Blockchain’s wallet users to store crypto assets offline through integration of cryptocurrency hardware and software.
The Blockchain Lockbox started taking pre-orders from October 25, with deliveries expected in start in mid-November.
Hardware wallets are said to be immune to computer viruses that attempt to hack or steal private keys. By storing private key in a hardware wallet, the user is securing cryptos offline, keeping it another step away from hackers.
The hardware wallet is a device that is independent from the PC or smartphone connected to the online network and manages the private key by the user, in order to avoid the risk of leakage of the private key by unauthorized access to the online server.
The Lockbox launch comes just three days after Sony announced the introduction of a contactless IC smart card type cryptocurrency hardware wallet that utilizing Sony’s IC card technology.
Bitcoin wallet startup Blockchain has raised $40 million, in a funding round led by venture capital firm Lakestar, Google’s investment arm Google Ventures and billionaire Richard Branson.