Bitfi Wallet is a hardware wallet that is completely safe and helps you keep your crypto safe. It is completely wireless and self claimed to be the world’s first unhackable crypto storage. It offers higher security than other storages in the cryptocurrency market. This simple storage does not require any technical skill, download or installation of any app. As long as you set up your Bitfi wallet, it will automatically receive the latest software updates. Our Bitfi wallet review will help you make the right storage decision for your cryptocurrency.
Let’s dive into the why what and how before checking the review for Bitfi wallet. Also, we will see a quick comparison of Bitfi vs Ledger Nano vs Trezor in the end to give you a clear picture on the differences.
Why you should consider Bitfi wallet?
Bitfi is a leading cryptocurrency wallet that offers higher security than others do. Unlike other popular crypto hardware, this storage has integrated features. It does not store your private keys in the hardware thus protecting it against online attack.
You will not panic when you lose your device to thieves or seized nobody can retrieve your private keys. Your funds are always safe on this platform. In case you lose the device, just buy another one, feed in your secret phrase as well as Bitfi open source code and access your funds.
Did you know that this wallet supports multiple digital assets? This is a good platform to consider for any cryptocurrency investment. The hardware features integrated Knox with support for Monero (XMR), a rare feature in nay hardware out there. Bitfi wallet review is the best thing you can read today and choose to secure your cryptocurrencies in a wallet.
There are a lot more research that goes into hardware wallets these days and I’m excited how secure the hardware wallet space is going to become in the near future.
What are the features of Bitfi Wallet?
- This crypto wallet is wireless: you will not connect it to nay computer with a cable. You ca use it anywhere anytime over any Wi-Fi. You will no longer have to deal with messy wires.
- The world’s first unhackable storage for crypto as well as other digital assets
- Completely open source: most crypto assets aim at placing full control over your money into your hands. A good wallet must be completely an open source that allows you to have full control over your funds. You can access and use your funds even if the manufacturer of the wallet no longer exits.
- It supports a wide variety of digital assets such as Monero, Bitcoin, Ethereum, Litecoin, Binance Coin, Aragon, TenX, OX Fina, Status, NEO, RChain, Maker, Salt, Raiden Network Token and Veritaseum among others.
- It is also the world’s first hardware wallet with support for MONERO.
- View all of your balances on the web anytime, anywhere without the device. You will view all the activities such as transaction history via your laptop or smart phone without using the hardware wallet.
Bitfi wallet supported currencies
Bitfi is a multi-currency wallet giving it an upper edge over its competitors. Among the Bitfi wallet supported currencies are:
- Binance Coin
- Raiden Network
- Other smaller Ethereum ERC-20 tokens
How does Bitfi wallet work?
Bitfi hardware wallet is a breakthrough technology that offers comparatively advanced security compared to other crypto wallets. It is good private as well as enterprise use because it adopts a simple interface. It does not require previous skills or any tech knowledge.
How to set up and use Bitfi wallet
- Go to Bitfi home page and Register; go to https://bitfi.com/register and set up your Dashboard. You can easily do this using your smart phone or computer. After setting up a Bitfi Dashboard, you will be able to view multi cryptocurrencies as well as crypto assets.
- Connect your device to WIFI and utilize the “device ID” on the dashboard. The device will prompt you to complete registration by adding initial payment address.
- Set your salt as well as passphrase. Learn more about how to set up a secret phrase from the homepage. This is the most crucial stage of Bitfi wallet registration, as it requires special attention. Your phrase is what protects your assets. If you do this properly, you will be able to store millions of dollars on your wallet without worries of insecurity.
How to use Bitfi wallet
You are good to go, as your wallet is ready for use. If you want to perform any activity within your wallet such as transferring funds, simple press on, “OPEN WALLET” on the device and execute your transaction. A pop up will then appear on the device that requires you to approve the transaction.
Keep in mind that your secret phrase will give access and full control crypto currencies and crypto assets in your wallet.
Bitfi wallet price
Bitfi price varies from one store to another. You can get the hardware drive from as low as $120 to $199 inclusive of shipping fee. The prices will also range based on your location. Do your homework right and have all the facts right. It is worth mentioning that you are free to buy this device from any dealer from across the world including eBay. Remember, it does not store private keys thus useless in a third party’s hands. However, it is advisable to deal with the manufacture and not a dealer.
BitFi Wallet Review
Pros of Bitfi Wallet
- Incredibly fast
- It is an open source
- Does not store your private keys
- It is user friendly
- Supports multiple crypto assets
- No messy cables, uses wireless connection
Cons of Bitfi Wallet
- Users can easily forget the SALT/PHRASE
- It is not readily available
Bitfi Wallet vs Ledger Nano Wallet vs Trezor Wallet
|Bitfi wallet||Ledger Nano wallet||Trezor wallet|
|Does not store private keys thus providing security at all time||Provides the highest level of security for crypto assets
Empowers its users with the ownership as well as control over their private keys
|It uses private keys that may leak vital information to hackers.|
|Easy to use and requires no technical skills. Users cannot lose their funds due to personal errors||It is simple as it is controlled by only 2 buttons||Super easy and intuitive to use|
|Does not require backup||It requires a backup so that if you lose your ledger Nano then you can always recover your 24 key words on a recovery sheet||Requires a backup|
|Users only require a security phrase to access their funds||Users require a 24 key words security to access and control their funds on the wallet.||Offers a password management and a second-factor authentication|
|Easy to operate as it is completely wireless||Uses Bluetooth connection
Uses USB cables to connect to a computer before you start using it
|Comes with a USB cable that you need to plug in and start using the hardware.|
|No security weakness||It protects your private key within a secure chip locked by a secret pin code||Creates a secure environment completely isolated from internet|
|Support multiple cryptocurrencies||Supports over 25 cryptocurrencies||Supports unlimited cryptocurrencies|
We have seen or the pros and cons of the above wallets. Study them carefully and choose one that best suits your needs. First, you have to consider your needs and experience. While some require specialized skills, others are simple and easy to use.
Bitfi wallet aims at easing crypto usability make it safe and secure. It is also making efforts to achieve a platform that will inspire as well as educate users from across the world the importance of blockchain network as well as decentralized banking. What makes it a perfect solution for cryptocurrency investors is the fact that it supports multiple cryptocurrencies and crypto assets. It is secure and helps you carry around your investment on your head.
This is all we need in the 21st century.You are your own bank and you are in full control of your assets. So, read and let us know your thoughts on this Bitfi wallet review.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates