What is BitLox?
Developed by BitLox.com, BitLox is a hardware wallet designed to ensure complete security for Bitcoin storage. The wallet’s exterior case is practically indestructible as it is made out of titanium and aerospace grade alloys.
The wallet features the ability to generate 100 wallets, and you can opt to hide half of them, which can only be unlocked by the number and PIN code you selected.
BitLox comes in three different models:
BitLox Advanced: The wallet’s exterior case is made out of special aerospace grade alloy. Users are able to create up to 100 wallets, and there is no limit to how many addresses a wallet can hold. The wallet is priced at $98.
BitLox Ultimate: This model’s casing is made from titanium. It can also generate 100 wallets out of which 50 can be hidden. The wallet can be bought for $148.
BitLox Extreme: This wallet offers extremely advanced security which is at a military level. The BitLox Extreme model is sold at $198.
All models come with a 5-year warranty.
BitLox is compatible with devices that run on Windows, iOS, Linux, Mac OS, and Android systems. A Chrome extension is also available for download, which can be connected to BitLox via USB.
BitLox currently only supports Bitcoin, but the company announced that it will be extending its support to Ethereum and other altcoins in the near future.
BitLox complies with BIP32 and BIP39 protocols, which facilitates the implementation of a mnemonic code and facilitates its function as a hierarchical deterministic wallet.
The wallets in hidden mode can only be accessed by a PIN and 4-digit password.
There are three different modes that enable different security features:
- Standard: Auto- generates 4 to 8-digit PINs as well as a 12-word mnemonic.
- Advanced: Allows you to make your own PIN of 60 characters, an 18-word mnemonic backup and you have an additional “anti device-tampering”
- Expert: It has in addition to Advanced a 24-word mnemonic and PIN requirement for each transaction.
You will be required to create an additional PIN for created wallet no matter which mode you choose.
The platform’s design was not made for novice users. As the wallet features different modes, things can get a little overwhelming for a first time user.
BitLox.com is a firm based in Hong-Kong which offers products and services for digital currencies and finance. The startup was registered by a Hong Kong resident named Dana Coe in January 2015.
The BitLox support team can be contacted via email or phone for any issues or questions regarding the product. An FAQ page is also available on their website, which presents instructions on how to use the device. The response times are somewhere within the 72-hour timeframe.
- Connect the USB to your computer or laptop.
- Set the Device PIN.
- Select the mode you want to use.
- Wait for the device to be formatted.
- Enter the PIN.
- Put in the mnemonic code.
- You can now connect your wallet via a USB connection or Bluetooth connection.
- The first address generated on the wallet will be shown when the QR code is displayed.
- In order to make a transaction, scan the QR code or copy and then paste the address.
BitLox is a Bitcoin hardware wallet which offers top-notch security implementations encased in an extremely sturdy device. But in spite of its advanced features, the wallet comes with a rather high price tag and the user interface is not easy to navigate for newbie users.
Beginner traders are advised to look for a cheaper and less complex alternative.
Image Source: www.bitlox.com