The Crypto Merchant launched a collection of hardware crypto wallets, including the CoolWallet Pro, which allows unlimited seed phrase storage.
Daytona Beach,United States - December 21, 2022 /PressCable/ —
CoolWallet Pro is compatible with over 150 major cryptocurrency coins. It supports 12, 18, and 24-word seed word phrases and has a PIN code for multiple layers of protection.
For more information, visit https://www.thecryptomerchant.com/collections/hardware-wallets
The Crypto Merchant’s new product launch coincides with a Time Magazine article about cryptocurrency wallets and why traders must have one, no matter how good they are at remembering their passwords. According to the article, millions of cryptocurrency accounts, amounting to billions of dollars, appear to be dormant or locked because the owner of the account forgot their password.
The crypto security retailer explains that, unlike other financial accounts, cryptocurrency is completely anonymous. Traders do not leave behind emails or phone numbers that can be used for password retrieval. Once the password is lost or forgotten, the account is considered locked and may no longer be retrieved.
Many famous investors have become victims of this particular characteristic of cryptocurrency, The Crypto Merchant states. Stefan Thomas, for example, lost 7,002 Bitcoins worth $265 million dollars because he could not remember his password. Another trader, James Howells, owns the equivalent of $300 million in Bitcoin but lost his password when he accidentally threw away an old hard drive.
The solution to this issue is to use offline or “cold storage” coin vaults. The Crypto Merchant’s CoolWallet Pro is a premium option with CC EAL 6+ certified secure element, which is one of the highest security standards in the market. It is small and thin, about the size of a credit card, but it is durable, water-resistant, and tamper-proof.
Cold storage is preferable over online or “hot” storage because it is hack-proof – but also because it is a standalone device that traders cannot accidentally throw out, like a hard drive or flash drive. The PIN code is a convenient feature because should users lose their hardware wallet, the numerical code still secures their seed phrases.
“Founded in 2017 by New York City-based early crypto adopters, coders, miners, and investors, our company was built to help you stay informed and secure while investing in this exciting new asset class,” a company representative said.
More information is available at https://www.thecryptomerchant.com
Contact Info:
Name: Mark Venables
Email: Send Email
Organization: The Crypto Merchant
Address: 609 South Ridgewood Avenue, Daytona Beach, FL 32114, United States
Phone: +1-386-222-2954
Website: https://www.thecryptomerchant.com/
Source: PressCable
Release ID: 89087077
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