MIAMI--(BUSINESS WIRE)--Today, the company introduced the VaultTel solution in the U.S., and will immediately expand use to European countries through their United Kingdom company.
VaultTel combines a secure software solution (VaultTel App) and a VaultTel card (Chip) to store Cryptocurrency and digital assets within mobile phones using biometric authentication & state-of-the-art encryption.
The VaultTel Card, is a chip that goes on the SIM CARD tray of mobile phones (dual SIM) or accessory (like a dongle) for iPhones.
VaultTel allows users to store and access their Private Cryptocurrency Key more securely than its competitors as it offers the following:
• Biometric Authentication is needed to access the wallet passcode and wallet;
• Device Locks access to wallet down to a particular device. Device identifier is stored on the chip (this is an optional feature);
• GeoLock, locks access to wallet down to a Geo fence. The Geo fence is stored on the chip (as an optional feature);
• Data is stored on the chip using AES 512 which is a military grade encryption.
VaultTel is the only cryptocurrency storage solution designed for mobile phones. Other products available on the market, such as Ledger and Trezor Wallet, utilize an external device with a micro USB connection. They only work on laptops and desktops while our solution was developed to work on mobile phones (Android with dual SIM tray or iPhones).
VaultTel also protects the private keys (i.e., seed) of the wallet with a passphrase.
VaultTel is implemented with the latest Bitcoin standards. This includes using a BIP39 seed and BIP44 HD Wallets (BIP: Bitcoin Improvement Proposal).
CEO, Isaac Daniel says, “VaultTel’s multi-actor authentication security designed for cryptocurrency storage on mobile phones is the first of its kind and that really sets us apart.”