19 REASONS WHY EVERY BEGINNER Needs This Hardware Wallet And Not The Other 4: DIGITAL BITBOX WALLET REVIEW 2018
The Best Hardware Wallet For Bitcoin Beginners.
As a way to get the beginners or the top five crypto holders involved, you might not need a costly wallet to manage your coins.
With a simple but beginner’s wallet that is secure, you are good to avoid the hacker’s myth on your coins.
So, which wallet is for the beginners? Let’s see below.
- 1 DIGITAL BITBOX WALLET REVIEW 2018
- 1.1 DIGITAL BITBOX
- 1.2 DIGITAL BITBOX SUPPORTED COINS
- 1.3 DIGITAL BITBOX IN A NUTSHELL
- 1.4 DIGITAL BITBOX UNBOXING
- 1.5 HOW DIGITAL BITBOX WORKS
- 1.6 WHY DIGITAL BITBOX IS THE RIGHT WALLET FOR CRYPTO BEGINNERS
- 1.7 WHAT I DON’T LIKE ABOUT DIGITAL BITBOX
- 1.8 GETTING STARTED WITH DIGITAL BITBOX
- 1.9 OTHER DIGITAL WALLET SETTINGS
- 1.10 WHOM WAS DIGITAL BITBOX BUILT FOR?
- 1.11 CONCLUSION
- 1.12 IT'S NOT TOO LATE. BECOME A CRYPTO/ BLOCKHAIN NERD!
DIGITAL BITBOX OVERVIEW
• Wallet– DIGITAL BITBOX
• Country – Zürich, Switzerland
• Company – SHIFT Cryptosecurity
• Coins managed – 4 major (BTC, ETH, ETC, LTC) + ERC20 coins.
• Price – €59
• Shop – https://shiftcrypto.ch/shop
Okay, I admit it. I made a mistake about this crypto wallet.
Before now, I had thought Digital Bitbox was still an-only-Bitcoin wallet. Guess what?
They had left that level. Digital is the best Minimalist Design hardware wallet for fewer coin holders.
DIGITAL BITBOX WALLET REVIEW 2018
The Swiss engineered-wallet is a plug-and-play hardware wallet that allows you to store, send and receive cryptocurrencies.
The minimalism of this wallet comes from the design of putting you in control of your coins and with a very user-friendly experience.
The unique setup about Digital Bitbox is just about plugging it into your computer. And when you do (where the fours line gold knobs are fitted in, start spending and receiving cryptocurrencies).
DIGITAL BITBOX SUPPORTED COINS
With more coins to be added soon, as of the time of writing, Digital Bitbox supports Bitcoin, Ethereum, Ethereum Class, Litecoin, and other ERC20 tokens.
DIGITAL BITBOX IN A NUTSHELL
DIGITAL BITBOX UNBOXING
When you open the Digital Bitbox, the following gadgets are what you will see.
• HARDWARE WALLET
BitBox comes with a compact and sturdy body when you open the pack.
Its portable epoxy-filled case is made from the material used in bullet-proof glass.
It has a handy touch button and LED indicator which makes it easy to confirm your transactions.
Also, it contains a physical True Random Number Generator to privately create unique wallets.
• Micro SD card
D.B comes with a micro SD card which is about 4GB memory card; allowing for vastly simplified and secured wallet creation, backup, and recovery.
I think you will like the fact the micro SD card is from a reputable company – SanDisk.
No, there is no user Manual as the process of setting it up is very simple.
This matters if you need it. If yes, then there is a link to download it as we go on).
HOW DIGITAL BITBOX WORKS
What this wallet primary does is to create and store your secret keys to enable cryptocurrency transactions such that as most standard hardware wallets, it shields your private keys such that they are not exposed in any way over the internet.
If in the course of using the wallet you made a mistake and reset it, all you need to do is simply reload the backup from the micro SD card to recover your wallet.
LOADING THE WALLET?
With Digital Bitbox, there are three ways to create or load a wallet. You can either use the onboard option, the microSD, and the USB design option.
As a beginner,I believe the USB is much more flexible for you as the private keys do not have to touch the computer or even be exposed to the internet.
You will see how to set it up as we go on.
There is no reason to buy a crypto wallet if the security is not a guarantee. And with Bitbox, its sure is.
Why is Bitbox so secure?
The BitBox’s unique Dual Chip compacted system offers optimal protection, with secrets kept isolated on a high-security memory chip.
Again, the product’s software app is native; an advantage to avoiding security attacks that other browser-based wallets risk.
WHY DIGITAL BITBOX IS THE RIGHT WALLET FOR CRYPTO BEGINNERS
(1) THE CONTROL
Digital BitBox puts you in control of your coins, which is not the case with software wallets or when you use online cryptocurrency exchange wallets.
(2) PLUG AND PLAY
Digital Bitbox wallet is a plug and play wallet which you can get started by plugging it into your computer via the USB port.
(3) MINIMALIST COINS MANAGEMENT
This is the right wallet for beginners that do not want complications when it has to do with managing their digital assets.
With Digital bitbox, users that want to manage just about top 5 coins are greatly of an advantage.
(4) USER INTUITIVE
One of the things I feared most was using Bitcoin, but after learning how to overcome fear and buy bitcoin on my own, since then, I have been doing it myself.
What am I trying to say?
I know, some beginners may dread using a complicated wallet. If that sounds like you, this is the heroine of the Digital Bitbox.
The device management and settings of D.B wallet are in one convenient location
In fact, learning how to use the new interface is easy as a dynamic guide accompanies you every step of the way. The new layout is simple and easy to use
(5) SIMPLE TRANSACTIONS VERIFICATION
With Digital Bitbox’ smart verification mobile app, after cryptographically pairing it with BitBox, allows your phone to be used as a large screen to securely verify transactions and addresses.
(6) FLEXIBLE COIN DISPLAY DESIGN
The use of Bitbox to display coin value is a wonderful thing. Why? The wallet has the adjustment to display coin value in 8 major fiat currencies.
(7) BEGINNER/USER GUIDE
As a beginner wallet, Digital Bitbox has added a feature guide on the right-hand side of the interface which provides you with targeted information to save your time, as well as inform you about important cryptocurrency topics.
(8) BEGINNERS BOUND
I did say that D.B is all about beginners. Yes, it is. But that does not mean it shouldn’t compete with other wallets.
So, what this product does is that for the sake of beginners, advanced features can be hidden so they don’t intrude on the interface (how nice is that?).
(9) MAGNETIC PRIVACY OPTIONS
Digital Bitbox is a wallet packed with security and privacy.
In there, the private keys to unlock access to your coins and transaction history aren’t exposed to anyone via the internet or external devices, why? Because they never leave the BitBox.
(10) TWO- FACTOR AUTHENTICATION
This is a product that covers you from the negligence of activating two- factor authentication on your wallet.
The Digital Bitbox’s 2FA uses a universally recognized FIDO U2F; a great design option if you ask me.
(11) MULTI-SIG SUPPORT
As part of the roadmap project of Digital Bitbox, the product has an out-of-the box multi-sig option which gives you an added advantage to your coins.
Multi-sig? : refers to requiring more than one key to authorize a Bitcoin transaction.
Meaning, if you had a partner that co-signed to protect your wallet, for you to withdraw from the wallet, your partner must approve it, else, the money cannot be withdrawn.
If your Multi-sig partners were 3, if 2 are available, then the money can still be withdrawn.
So, to get the best of the Multi-sig integration, you can use it with Copay wallet.
(12) PLAUSIBLE DENIABILITY
This is one of the options you want to look at for. The D.B wallet offers you the security design of Plausible Deniability.
This is the rapt D.B wallet option you need to use when at gun point because it functions by using hidden wallets and backups to secure your digital assets.
(13) DIGITAL BITBOX SEGWIT SUPPORT
With the current Digital Bitbox, you can now send and receive coins with a native Segwit wallet featuring the Bech32 address format. Now, what is the advantage here?
As a user of D.B wallet, the Bech32 wallet integration offers the lowest fees compared to other address formats.
Perhaps you might be worried about what happens if your wallet gets stolen. This is what will happen.
If an unauthorized person steals your D.B wallet, the person will also need to steal your password in order to steal your coins.
And if two-factor authentication was enabled, the hacker will also need your second-factor device (such as a mobile phone).
And lastly, after 15 unsuccessful attempts to guess the password, the BitBox will erase all secrets and reset. This prevents brute force attacks.
(14) WITHSTANDING SIDE-CHANNEL ATTACKS
Improper cryptographic algorithms can leak secrets from only one signature.
Thankfully, algorithms exist that make side-channel signals, such as power usage and electromagnetic waves, very hard to distinguish.
The good news is that BitBox uses the same cryptographic library used in Bitcoin (secp256k1).
So, it was carefully pre-designed and tested to prevent known side-channel attacks.
(15) CODED ADVANCED OPTIONS
As for the pro users that might need more functionalities, the D.B comes with advanced features which some of them include Coin Control and Fullnode support for privacy enhancement.
(16) TAMPER-PROOF DOGGEDNESS
Can a thief break open a BitBox and physically extract private data, for example, by probing the chip’s PIN or de-capping the chip (i.e. reverse engineering)?
Let’s say no. Why?
All secrets (keys and passwords) are stored isolated on a separate high-security chip designed specifically to keep your secrets secret.
As stated in section 3.1.2 of the datasheet: “The device contains physical security features to prevent an attacker from determining the internal secrets. ATAES132 includes tamper detectors for voltage, temperature, frequency, and light, as well as an active metal shield over the circuitry, internal memory encryption, and other various features.
The ATAES132 physical design and cryptographic protocol are designed to prevent or significantly complicate most algorithmic, timing, and side-channel attacks.”
More so, the primary microcontroller’s memory is locked, and the JTAG pins are disabled. So, when using a BitBox, SRAM that temporarily holds secrets is zeroed immediately after use.
Again, given enough effort and equipment, any device is susceptible to being cracked, but there should be plenty of time to transfer your coins to another wallet.
(17) PRIVATE KEYS SECURITY
Based on the unique nature of Digital Bitbox, your private keys will not touch your computer or be exposed to the internet; not even during the initial setup or backup.
The wallet’s onboard micro-controller generates a wallet (BIP32) using as high-quality hardware random number generator to create entropy.
Again, the onboard slot for a micro SD card allows offline backup and recovery.
So, there is no need to expose your wallet while typing on a keyboard or displaying recovery information on a screen, leaving it susceptible to theft by keylogging, screen captures, and cameras.
Unlike other hardware wallets, you can back up your wallet at any time and as often as you like. And even switch between different wallets in a snap.
(18) OPEN SOURCE
Another interesting option about Digital Bitbox is that it is open source.
And by open source it means that you can look it up and see the true nature of it. Should you be interested, a nice place to go about that is at GitHub.
(19) GOOD CUSTOMER SUPPORT
A great company is visualized by a great customer support. And talking of a great customer support, Digital Bitbox has it; fairly I guess.
Although when I emailed them I never got an instant response. However, I got back the reply I needed.
While I never got an instant reply, another user said his emails were replied within 24 hours, and he was satisfied with the level of information their support team provided.
So, a good company with a great product makes it simpler for the users.
WHAT I DON’T LIKE ABOUT DIGITAL BITBOX
(1) NOT MANY NATIVE COINS SUPPORTED
The Bitbox wallet supports Bitcoin (BTC), Ethereum (ETH, ETC, and ERC20 tokens), and Litecoin (LTC) cryptocurrencies.
Also, the new Digital Bitbox supports both the Bitcoin and Litecoin natively. What the heck is the native of a thing?
It means that you can manage both Bitcoin and Litecoin without the use of third-party applications.
For an example, if you want to manage (send and receive) ETH, ETC, ERC20 tokens, and more, you will need a third-party application to do that.
While this is just a 4 major and ERC20 coin wallet, existing BitBoxes can add support for new coins and features by upgrading the firmware.
(2) IT HAS NO SCREEN DISPLAY
DIGITAL BITBOX as an SD Card wallet has no screen like the other crypto wallets. So, to use it, you have to use a mobile phone or a computer.
(3) BACKUP CAREFULNESS
For you to back Digital Bitbox, you need to be careful since it works with the SD card.
There are many things to preview such as protecting the wallet when your computer is connected to the Wi-Fi, internet and so on.
Let’s see an overview of the backup steps you need to look out for.
• Before adding any bitcoin to your wallet, take few days to play with it and familiarize yourself with managing backups. It is simple to get fooled by the smooth interface and erase the backup.
• Buy at least one more SD card and backup your wallet there as well
• Ideally, buy two DigitalBox hardware wallets, the other one will be your backup.
• Never keep your Digitalbitbox wallet and an SD card together, especially not outside your own home. Unplug the SD card and store it in the safe place.
• If you lose access to your SD card and your wallet gets broken, all of your assets are gone.
• Never open SD card on the PC alone. If you want to do that, please use a fresh installation of Tails and for the love of God, do not connect to the internet when doing it.
• Never print from the SD card if your printer has a WiFi or Bluetooth. Never print from the SD card on a third-party printer.
MORE ABOUT BITBOX
Offline, anytime backup and recovery with a micro SD card.
Native software client avoids security risks of browser-based clients.
Plausible deniability with hidden wallets and backups.
Tor and Tails OS compatible to protect your privacy.
Private keys kept on a high-security chip that prevents physical extraction (50-year lifespan).
Portable, extremely durable case filled with epoxy and packed with security.
Subtle design avoids unwanted attention.
Many Native coins
No (integrated with applications)
Smart verification and second-factor authentication mobile app (optional to use).
Fully open source
Onboard True Random Number Generator to privately create unique wallets.
UserSwiss ideals – quality, privacy, no backdoors.
As a beginner wallet, this wallet goes only for €59 on the parent (company) website.
BUY DIGITAL BITBOX
You can get Digital Bitbox at the company website – https://shiftcrypto.ch/shop
GETTING STARTED WITH DIGITAL BITBOX
To get started, you have many options to go about it. You can either watch the intro below or get the guide and see how.
Step 1. Download the app
Download, install and run the latest desktop app for your operating system. It works on Windows, Linus, Apple and Source Code.
Step 2. Plug in your BitBox, with a Micro SD card inserted.
After plugging in your wallet, you need to enter a wallet name and device password using the desktop app.
The BitBox will create your first wallet and generate a backup on the micro SD card (SDHC cards are supported). Send coins to the wallet using addresses listed in the ‘Receive’ tab of the desktop app.
Step 3. Don’t forget your password.
Remember the device password, and keep a copy of it somewhere safe.
Note: Without it, you cannot access your wallet and cannot access the backup saved on the micro SD card.
Step 4: Remove the Micro SD card and store it somewhere safe.
Why do you need to remove the Micro SD card and store it somewhere safe? Because the backup and device password can be used to recover your wallet.
To end it, let’s say you wanted to perform a particular task and you made a mistake and reset the wallet. Should you worry? Not at all.
The guide above will show you what to do. But just to observe it.
If such happens, all you need to do is simply reload the backup from the micro SD card to recover your wallet.
OTHER DIGITAL WALLET SETTINGS
There are some settings you might want to tweak when using Digital Bitbox. Some of them include enabling full 2FA, firmware upgrade, customer mobile app and so on. The image below shows everything.
Digital Bitbox Resource material – How to recover a backup without a BitBox or to learn how to load your own wallet.
WHOM WAS DIGITAL BITBOX BUILT FOR?
There is no doubt that I like this wallet so much, yet, the question is, who are the likely prospective users of Digital Bitbox?
(1) Simple Holders
If you want to manage just the 4 major coins – Bitcoin, Ethereum, Ethereum Class, and Litecoin, and other ERC20 tokens, then Digital Bitbox is for you.
(2) Stashed Coins Holders
If you are holding a stash – a lot of Bitcoin or other 3 major coins, then Digital Bitbox is for you.
If I am starting out, and I want to hold the above categories of Coins, believe me, I don’t need to spend much money on the other wallets. With a simple Digital Bitbox, I am okay.
The reasons for using Digital Bitbox outweighs the cons we have seen so far. And of course, the few reasons not to use are on the roadmap of integration by the company.
It might interest you to know that only the company’s officially signed firmware is capable of being run on your Bitbox; now, that is something that is rarely seen in other crypto hardware wallets.
While this is a definite wallet for the beginners, I would say, try to explore and educate yourself if you are interested to learn about all the capabilities the BitBox has to offer.
Why do you have to explore more?
Because, you might be confronted at the road checkpoint by securities or bad boys, and your wallet might be demanded for inspection or otherwise.
At that point, your only savior would be to use plausible deniability.
And what will happen if you never explored how to use the option, bad weather, right?
So, you see, it is important we go all out to see what the wallet has for us.
All in all, the question now is, are you okay with the 19 designed options of using a simple wallet like the Digital Bitbox? If yes, then, I am with you as well.
And another nice thing about it is that it fits in as a good gift item, right?
Shop – Buy Digital Bitbox
Disclosure: iwillteachucrypto affiliate links are in this post.
IT'S NOT TOO LATE. BECOME A CRYPTO/ BLOCKHAIN NERD!