By
Godfrey Benjamin
April 12th, 2024
One of the oldest software wallet providers Blockchain.com has entered in a new collaboration to release its first hardware product.
Blockchain.com is one of the oldest and one of the most widely-known cryptocurrency web wallet provider but now it has something absolutely new to offer its clients. Having entered in a partnership with hardware wallet manufacturer Ledger, Blockchain has developed an exclusive hardware wallet.
Peculiarities of the New Wallet
The new product is known as the Blockchain Lockbox and it is said to be a “first-of-its-kind hardware and software” solution. With its new hardware device Blockchain is going to enable its users to easily manage their online and offline funds via a single already known interface.
Blockchain and Ledger have joined their forces to unite their strengths with a view to provide Blockchain users with an opportunity to transfer some amount of their funds offline which will guarantee a higher level of protection against hacks.
Nevertheless, there is still an option to keep funds in the existing non-custodial web wallet and it is still possible to access it apart from the hardware device.
Moreover, the Lockbox will significantly facilitate crypto-to-crypto trades through Swap, the company’s native brokerage, which is planned to be launched in the nearest future.
Speaking about their new product CEO and co-founder of Blockchain, Peter Smith, stated:
“The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly”.
Lockbox Device
According to the information provided by the company, unlike other hardware wallets, Lockbox is endpoint-controlled. It means that when a user wants to connect the wallet to the internet and plugs it into a computer, thanks to a specially installed key set it will be possible to connect the device only with approved websites. So, a user won’t be connected to some fake versions of third-party platforms or illegal websites.
The Lockbox is said to support mainly the cryptocurrencies that are supported on Blockchain’s online platform: Bitcoin, Ethereum and Bitcoin Cash. But it’s worth mentioning that the company is going to consider a possibility to add some other cryptos if there is a proven demand for them.
Pascal Gauthier, president of Ledger, also commented the result of their partnership with Blockchain:
“With stories about crypto hacking continuing to dominate headlines, it’s obvious that security must be top of mind for all stakeholders in the crypto space. With the combined forces of Blockchain and Ledger, users are truly getting the best of both worlds. Our partnership with Blockchain is the first of its kind, but as two companies hyper-focused on crypto security, it’s one that’s a natural fit.”
The device is built on Ledger Nano S hardware but it’s not its standard version rather custom Blockchain firmware. It is expected that the first deliveries of the device will take place in mid-November. Nevertheless, the Lockbox is already available for preorder and it is sold for $99.99.