Understanding Crypto Secure
Private keys stored on a wallet connected to the internet are vulnerable to network-based theft. These wallets are known as hot wallets. With a hot wallet, all the functions required to complete a transaction are made from a single online device. The wallet generates and stores private keys; digitally signs transactions using private keys; and broadcasts the signed transaction to the network. The problem is that once the signed transactions have been broadcasted online, an attacker crawling the networks may become privy to the private key which was used to sign the transaction.
Cold storage resolves this issue by signing the transaction with the private keys in an offline environment. Any transaction initiated online is temporarily transferred to an offline wallet kept on a device such as a USB, CD, hard drive, paper, or offline computer, where it is then digitally signed before it is transmitted to the online network. Because the private key does not come into contact with a server connected online during the signing process, even if an online hacker comes across the transaction, s/he would not be able to access the private key used for it. In exchange for this added security, the process of transferring to and from a cold storage device is somewhat more burdensome than the process for a hot wallet.
The most basic form of cold storage is a paper wallet. A paper wallet is simply a document that has the public and private keys written on it. The document is printed from the bitcoin paper wallet tool online with an offline printer. The paper wallet or document usually has a QR code embedded on it so that it can easily be scanned and signed to make a transaction. The drawback to this medium is that if the paper is lost, rendered illegible or destroyed, the user will never be able to access his address where his funds are.
How does Crypto Secure work?
We will move your assets into cold storage using a hardware solution, the easiest way is just to keep the private key to your digital wallet saved as a filei on a USB stick.
Transfer to Vault
Second step is we will secure your USB Flash Drive in a vault. This will guarantee that the flash drive won’t be lost or be stolen. Only you will know the code of the vault.
Your Crypto currency is now secured. You can take it out of the vault whenever you want. Securing your Crypto currencies have never been this easy.
Secured. Fast. Reliable.
The recovery seed is a crucial element for the security of your CryptoSecure hardware wallet. If your device is lost, damaged or stolen, you can use your recovery seed to restore access to your entire wallet, passwords and other data associated with it. The process is simple; you only have to enter the words of your seed into your new CryptoSecure device.