On March 1, the Twitter account of the SLP (Simple Ledger Protocol) developers revealed a new hardware wallet card for SLP tokens created by the Belgian company Satochip. The redesigned product is the first SLP token hardware wallet on the market and works natively with the Electron Cash SLP wallet.
Also Read: 13 Crypto Debit Cards You Can Use Right Now
A Bitcoin Cash hardware wallet with a secure chip and a low form factor
The Bitcoin Cash (BCH) community was delighted to receive a new SLP hardware wallet (Simple Ledger Protocol) from satochip.io. The products developed by Satochip are hardware wallets that contain various cryptos such as BTC, LTC and BCH and are shaped and dimensioned like a conventional credit card. Since launch, the company has released verifiable and open source code, and the card’s app offers 2-factor authentication. In December 2019, some BCH advocates wrote about the company’s Bitcoin Cash hardware wallet on the Twitter and Reddit forums. “Works fine with Electron Cash,” tweeted Corentin Mercier two months ago.
BCH-based Satochip wallets can also be purchased from the Bitcoin.com store.
The first edition Bitcoin Cash hardware wallet designed by Satochip is a limited series edition that includes three different designs. In addition, the Satochip team stated that the BCH hardware wallet card was “an achievement of a year of hard work” for the developers. The name of the startup ‘Satochip’ stands for Secure Anonymous Trustless and Open Chip. And just like your conventional debit or credit card, the Satoship BCH card also uses a Javacard applet. By using a smart chip, developers claim that it “encrypts information to increase data security when executing transactions and storing keys”. The cards are weatherproof and have a low form factor, which the Satochip developers describe as follows:
Open and scalable standards that can be easily customized, transferred, loaded and shared with crypto friends.
Satochip unveils the first SLP token hardware wallet
After the BCH-based card was released, the Simple Ledger Protocol (SLP) development team unveiled an SLP-based Satochip card on March 1, 2020. “Many thanks to Satochip for creating the new hardware wallet design for the SLP community,” tweeted the developers. “We can’t wait to get our first order.” The company’s webshop, devoted to the new SLP hardware wallet, declares that the wallet is the “very first Bitcoin Cash SLP token hardware wallet.”
Thanks to @SatochipWallet for creating the new hardware wallet design for the SLP community! We can’t wait to get our first order. Https://t.co/pC21LkLtNk pic.twitter.com/0Qf9DzbTdH
– Simple Ledger Protocol (@SimpleLedger) March 1, 2020
This particular version also works with the Electron Cash (EC) wallet, but uses the SLP version of EC. “The design was created by the SLP community. You can now safely store your Spice, Honk, Sour and Preferred SLP tokens in one safe place, ”explains the Satoship website. Just like Satoship’s other card products, the SLP hardware wallet card costs € 25 per unit. The SLP card also contains a secure chip contact, but users must receive the chip card reader in order to use the chip.
The Satochip SLP Token Edition. The hardware wallet works with the Electron Cash SLP version and the wallet can store all SLP tokens.
The BCH community on Twitter and Reddit discussed the new card and a user asked if the company could post a demo of the card in action. Satochip has a video on Youtube that has an explainer but the video is not a demonstration of the card. A number of Bitcoin Cash-based SLP tokens have gained real value, and a hardware wallet for SLP tokens would likely be useful for some SLP whales.
The Satochip SLP hardware wallet is designed for SLP tokens such as GOC, ACD, BRST, SAI, SPICE, USDH and FLEX. Did you know that you can also trade, buy and sell a range of popular SLP tokens on exchange.Bitcoin.com? Check out our fast and secure trading platform today if you want to trade some of the hottest SLP tokens out there.
For example, according to the token section of Markets.Bitcoin.com configured to display only SLP tokens, seven different SLP tokens have an exchange value. The Coinflex token FLEX has a market valuation of $ 27 million and the market capitalization for Gocrypto’s GOC token is now $ 10.6 million. The community-based SPICE has a market cap of $ 604,000 and many other SLP tokens such as HONK, ACD, SAI, and USDH can be traded on a number of exchanges. Satochip’s new SLP hardware wallet is designed to protect these tokens until someone wants to sell their SLP stock on an exchange.
What do you think of the SLP hardware wallet created by startup Satochip? Let us know what you think about this product in the comments section below.
Disclaimer: This article is for informational purposes only. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.
Photo credit: Shutterstock, Satochip, Simple Ledger Protocol, Bitcoin.com, Fair Use, Wiki Commons, Markets.Bitcoin.com Token Area, and Pixabay.
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BCH, Bitcoin cash, BTC, card, card reader, chip, Coinflex, cold store, Corentin Mercier, developer, encryption, FLEX, GOC, Gocrypto, hardware wallet, Honk, LTC, private key, Simple Ledger Protocol, SLP, SLP- Token, spice, spice tokens