Is John McAfee's Unhackable BitFi Crypto Wallet Better Than Trezor & Ledger?

For as long as cryptocurrencies have started being traded on exchanges versus the early days where the only way to get coins was to mine, storing your bitcoin and crypto assets has been a top priority for any token hodlers. And if you have been in the industry for any length of considerable time, there are two to maybe three household-known hardware wallets to consider – Trezor and Ledger Wallet, and possibly KeepKey – but now BitFi looks to challenge the likes of the industry’s kingpins when it comes to secure, offline digital currency storage.

Let’s take an inside look at the unhackable, John McAfee backed-hardware wallet to see if it can rival Trezor and Ledger and possibly overcome them in marketshare.

BitFi Wallet Gets Strong Reviews at Launch

John McAfee’s new BitFi wallet has received strong reviews at launch. “If you own cryptocurrency you need a BitFi wallet,” writes Rob Loggia at LoggiaOnFire.com.

Loggia, a member of the McAfee Crypto team and strong supporter of John McAfee, claims the wallet combines security and simplicity to deliver a superior crypto wallet experience.

Loggia claims you can’t even call BitFi a wallet. It’s so convenient that it’s more accurate to call it a “convenience device”:

“In fact, to call Bitfi a wallet is not 100% accurate, though it is necessary due to the way people think,” explains Loggia. “Bitfi is actually a convenience device, allowing ordinary people whose time is valuable to take advantage of the most secure scheme we have for storing cryptocurrency: a brain wallet.”

BitFi’s wallet system offers the full security of a brain wallet while adding the conveniences of a live wallet. It’s an authentication device that uses a powerful processor to translate something your brain can store – like a sentence – into the private key used to verify address ownership. Since the key is never stored, written down, or seen, it cannot be stolen.

The magic sentence exists only in your brain. With one sentence, you can protect an unlimited number of cryptocurrency wallets across any supported cryptocurrency.

Your only job with the BitFi wallet is to make sure you never forgot your sentence. Obviously, you should also not write your sentence down or tell anyone your sentence.

Because of the brain wallet-style system, BitFi is useless if someone steals it. Someone could find or steal your BitFi wallet, but it would be impossible to access the funds inside.

If you do lose your BitFi, you can still recover your funds. You can order another BitFi or use BitFi’x provided formula to manually calculate your private keys using your sentence.

Unboxing BitFi

Loggia explains the Bitfi unboxing experience and the payment process. One of the neat things about BitFi is that you don’t have to provide your name or other personal information. You can stay anonymous if you choose to do so.

Overall, Loggia described the payment process as “painless and unintrusive”:

“I was able to pay using Bitcoin, and did not even need to give them my name – just a shipping address.”

You can still order BitFi using any major credit card or debit card. However, to use a traditional payment card, you’ll need to enter your name along with your contact information.

After buying the wallet, Loggia claims post sale communication “was also excellent, with regular updates sent letting me know what to expect.”

BitFi shipped the next day and arrived 3 days later without incident.

The BitFi box includes the BitFi wallet itself, a case, a USB charger, a quick start guide, and a warranty card.

How Does the Device Work?

The BitFi device itself is described as “sturdy and well constructed.” It comes with a full color touch screen, making it easy to enter data into the device without using a computer and compromising security. It looks more like a tablet than a traditional crypto wallet.

The wallet ships with a charge. After getting the device, you just need to enter your Wi-Fi information via the touchscreen. Then, the device will connect to the internet and you can start loading.

“Within 10 minutes of unboxing my Bitfi I was already loading cryptocurrency.”

Loggia was impressed with the range of coins supported by BitFi. All major cryptos are supported by the wallet. However, there are still a number of cryptocurrencies that aren’t supported. BitFi plans to continue expanding support over time.

The author took particular issue with the lack of DogeCoin support. It’s one of the few major cryptocurrencies that isn’t supported by BitFi.

Conclusion

In short, Bitfi is a brand new release into the crypto space so it has a long way to catch up to the lion’s share of the market that Ledger and Trezor hold today. But given the simplicity, interface and overall excitement regarding the recent release of Bitfi – on top of the unhackable caveat – there looks to be a new player in town to consider when you go shopping for your next bitcoin hardware wallet storage solution.

 

Overall, the BitFi wallet received the seal of approval from Rob Loggia in one of BitFi’s first major reviews online.

It’s important to note that Loggia is closely connected to John McAfee. He’s the Technical Advisor for the McAfee Crypto Team, for example, and he was part of the Core Team of John McAfee’s 2016 presidential election bid. Nevertheless, Loggia claims he is providing his honest opinion of the BitFi wallet, and that he purchased the wallet with his own funds.

You can view Loggia’s full review of John McAfee’s favorite, BitFi wallet here.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

ten + 4 =