Gate.io launches hardware Wallet S1 with fingerprint recognition technology

Gate.io exchange has declared the launch of its hardware wallet, Wallet S1, to assist users with their digital assets and private keys.

By · Oct 15, 2020 . 5min read

Gate.io launches hardware Wallet S1 news

Gate.io, the cryptocurrency exchange has launched Wallet S1, a professional hardware wallet. It intends to provide users who don’t have the expertise to collect their private keys safely. Thus, it is a private key safekeeping solution for funds. Wallet S1 is easy to use with fingerprint recognition. Based in Hong Kong, Gate.io crypto exchange promotes daily over $63 million on its crypto listings. It aims to advance its security practices for customers with the new hardware wallet offering.

Hardware Wallet stores 10,000 crypto-assets

The device is six centimetres long. It can store above 10,000 crypto-assets like Bitcoin (BTC) and Ethereum (ETH) securely. Users can disengage it from the internet when not in use to exclude the probability of access by any hacker, making it an ultra-secure storage option for the private keys to their cryptocurrencies.

The S1 device is effortless to use. Following synchronizing the hardware wallet to an Android device or a laptop, cryptocurrency buyers can use the device’s fingerprint recognition feature to confirm transactions.

The company also supplemented that professional investors or enterprises could expand their crypto storage setup by linking the device to a GateChain Vault address. While the S1 will only be accessible in China initially, Gate.io announced that it would be sold to other countries in the next three to four months. The price for the device is approximately $50.

Wallet S1 possesses a robust security mechanism.

The wallet launch comes as an extension as the crypto market has grown in recent months, particularly in the DeFi space. With DeFi appearing more robust than ever, asset security is an essential part of the decentralized financial system. When users save their assets and secure their private keys, they are not confined to restrictions inflicted by a centralized platform. Thus, suffering professional custody and security services.

Wallet S1 implements a robust security mechanism so that users can enjoy their private keys without bothering about fund safety. Conclusively, Wallet S1 is straightforward to use and appears in a small portable size.

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