A new review of the Digital Bitbox, a hardware wallet, was recently released. The Digital Bitbox is a major product of a tech company called Shift Devices AG. The device would cost you around 59 Euros, just as the a normal Bitbox would cost. The Digital Bitbox is made in Switzerland in the City of Basel. Shift Devices AG, which was previously known as ETH Zurich was out of business for over a year prior to the release of the Digital Bitbox. The device comes well-packaged in a air-sealed package and no one could tamper with the wrapping without being noticed. The package contained the Bitbox wallet and an 8GB micro SD card.
After removing the device and SD card, you won’t find anything like instructions or guidelines rather just a website address. DIgitalbitbox.com/start is the website that clarifies where to start. After that there is a short walkthrough that is easy to understand and set up. There you will have to download an application which is a desktop client that is available on all computer platforms. After installation, you will be asked to enter your computer administrator password and then give your wallet a personal name and add a password. Note that when you want to restore your Bitbox funds, you will require your password.
The initialization procedure starts and then creates a first wallet along with sending and also receiving addresses. The SD card is needed during the initialization process as the Bitbox backs up private keys, after backing up the SD card can be ejected and kept somewhere safe. This is where Bitbox and other hardware wallets like Trezor and Ledger differ, at some point you are required to write a 24 word seed phrase. With the Bitbox the seed is saved and encrypted on the SD card. Every single communication between the app on the desktop and the Bitbox itself is encrypted with AES-256-CBC.
The desktop app and the setting category was made very simple with a platform that comes with a friendly UI. When an individual enters settings, you can control backups, set up a new wallet, change the password , reset the Bitbox, turn on the two-factor authentication (2FA) through the mobile app or also connect the platform to the mobile. The user can also test and see if the LED light is working properly. The LED is mainly for 2FA services and a user can count how many blinks the device transmits in order to authenticate the entry and command process.
The Bitbox is a pretty cool hardware wallet for the price and comes up with various forms of privacy features. The seed storage of the Bitbox is another unique feature in comparison to other hardware wallets. The most important feature of the Bitbox is that it only operates two types of cryptocurrencies, which are bitcoin core (BTC) and Ethereum (ETH).