BTCWall, found online at BTCWall.io, is a bitcoin protection service that comes in the form of a wallet. Find out how it works today in our BTCWall review.
What Is BTCWall?
BTCWall is a bitcoin storage system that promises to protect your money from hackers. The company claims that bitcoin crimes are expected to skyrocket in the next few years as more and more people hold digital currencies.
We’ve already seen bitcoin used as a currency for ransomware software. Hackers are also turning their attention to bitcoin wallets. By identifying the owner of a high-value bitcoin wallet, hackers could potentially extort that individual or threaten his/her life.
The protection system comes in the form of a wallet. You store your funds in the BTCWall wallet. That wallet has a built-in mixer that prevents your bitcoin from being traced back to you.
If you hold a large number of bitcoins, then you may already be targeted by cyber criminals. These people know your bitcoin address from the bitcoin network, and could potentially find your personal information. BTCWall aims to prevent this from becoming a problem.
What Problems Does BTCWall Seek To Solve?
BTCWall claims there’s a big problem in the bitcoin community: there’s no way for users to protect themselves or their digital currencies from “robbery, torture and extortion under the threat of murder.”
The BTCWall.io website also has an awkward sentence that says the following:
“Today, there is no convenient and reliable means for storing bitcoins providing maximum protection for prostate use.”
I’m not sure what “prostate use” is supposed to mean in this sentence, but BTCWall’s developers claim it’s a central problem that needs to be solved.
BTCWall also brings up the problem of “blood hat hackers” and “murderware”, two dark sides of the online criminal world:
Blood Hat Hackers:
These are a new type of cyber criminals who track down bitcoin owners for the purpose of robbing, torturing, or killing those individuals. Instead of stealing your bitcoin the old fashioned way – using the internet – these blood hat hackers use physical violence to intimidate bitcoin holders.
Murderware is a new type of software similar to ransomware – but much worse. These malicious programs search for traces of bitcoin usage on the network, then try to determine information about the bitcoin holder. These people might send a message to the bitcoin holder threatening physical harm if bitcoin isn’t sent to a specific address. That message might contain personal details about yourselves or your loved ones, for example.
How Does BTCWall Work?
BTCWall plans to solve the above problems using “BTCWall over-protected bitcoin.”
Essentially, it’s a highly-secure storage system that reliably protects your bitcoin using an easy-to-use cold storage system. It also hides traces of your bitcoin usage on the network using a built-in mixer and torus, making it harder for criminals to track the owners of bitcoins.
In the future, BTCWall’s creators plan to implement a built-in anonymous exchange on the blockchain for the sale and exchange of bitcoin in an anonymous, highly-secure way.
How does this system protect someone from being murdered for their bitcoin? Here’s how the developers explain it:
“In the event that users are subjected to direct robbery, kidnapping or torture, the purse has special additional protection from this.”
Those “special additional protection” measures include – no joke -a private security company that will quickly react to your emergency. That security team will be available internationally to protect BTCWall users.
Overall, BTCWall plans to be the first commercial bitcoin purse with over-protection for your bitcoin.
The BTCWall Token Sale
The BTCWall token, or BTCW, represents a share of the company’s profits. 40% of profits collected by BTCWall will be paid to token holders on an annual basis.
BTCWall will issue 80 million tokens within the ICO, with any unsold tokens destroyed at the end of the sale.
Tokens are set a rate of $1 USD per token. 90% of the total supply is being distributed to users, while 7% is kept by the founders and 3% for bounties/campaign.
BTCWall is a bitcoin wallet that promises the maximum level of protection for your bitcoin. The developers envision a future where bitcoin holders are kidnapped, tortured, and murdered for their bitcoins through the use of “murderware” software and “blood hat hackers”. It’s certainly a possibility: thieves have been known to drag you to an ATM and force you to withdraw cash, so it’s not outlandish to think that high-tech thieves could work in a similar way.
In any case, BTCWall is the first of its kind. It’s a unique platform in active development by a Russia-based team. You can learn more about BTCWall online today at BTCWall.io.