A few weeks ago I received a package from Cobowith its newest product Cobo Vault. This storage should be a next-level ledger, which promised to be the first wallet promising Military degree security hardware & software features, such as Multi-Signature for Added Security and state-of-the-art Data Transfer, whereas the device is completely air-gapped to keep your transactions safe from hackers.
itself works with the Cobo Vault App, which is available in Android/iOS-version.
So lets see, whether the promise has been kept 😊
The design of the black box I received is rather simple but elegant with a black surface with the product name Cobo Vaulton it.
The first storage level of the box contains the device itself with separated battery which can be attached to the device very easily, as it is magnetic.
The device doesn’t have any further ports, such as USB connection. That avoids a direct connection to any other device but the battery. As a result, Cobo Vault is protected and safe ofhacker attacks, as the device cant be connected to a PC directly. In addition to that, the device is equipped with a camera to process QR-codes, ensuring a wireless and safe data transfer.
Furthermore, there is a little memory card slot next to the magnetic connection points. In case of any updates, which the company provides, you can open up this slot with a screwdriver (included in the delivery) and put the memory card directly in the PC to receive those updates.
I would like to point out quite a highlight of the new hardware wallet: The so-called Self-destruction mechanism. If any hacker tries to extract data from the Cobo Vault, a self-destruction mechanism ensures, that the device is not usable any more except by you, if you enter the private key to prevent side channel attacks. This private key is stored in a super-safe, bank-grade encryption chip with specific Cobo firmware, being up-to-date to most modern security standards and protocols. how to make money trading using cryptocurrency and simultaneously maintaining the privacy is necessary.
How can you generate a private key?
The answer of that question can be found on storage level 2 and the bottom of the black box.
If you take out the device and the battery, you will see a kind of metal tablet on the upper left corner below. This is a protectivemetal case for you to store and generate your private key. The so-called mnemonic tablet contains small number boxes from 1 to 24, which can be used the following way:
If you take out all the content of the box until the bottom, you will see small letters from A to Z (431 letters included in the box), which you can press out and create your own private key.Therefore, you place these letters into the number boxes of the metal case. Before that, you need to open the number boxes withthe same screwdriver, which is used for opening up the memory slot. The mnemonic tablet is fire-resistant as well as water-proofed to ensure maximum security for our data.
Back to the content of the box: The second storage levelcontains the screwdriver for opening up the memory slot, another screwdriver for opening up the case of the Cobo Vault, a quick guide with warranty card, a USB cable and a “military-graded” security case. This metal case serves as a protection for the Cobo Vault device as well as its battery. It is called “military-graded”, because, like the mnemonic tablet, the metal case is fire-resistant, impact-resistant as well as water-resistant and protects its value from external forces.
Right below the metal protection case is the charging station for your battery. You can connect the charger very easily with the battery and attach the USB cable. Then you can connect the cable with the PC and charge the battery. As mentioned before, this avoids the direct contact between device and computer. A direct connection from device to PC is usually the main security issue and reason for hacker attacks. So this issue has obviously been solved in an elegant way.
Another advantage of Cobo Vault is, that it supports BTC, ETH, BCH, DASH, LTC, ETC, TRX, EOS and ETH, TRX, EOS tokens. It has enough memory to store them all at the same time. This means, Cobo vault has a storage advantage comparing to other hardware wallets / ledgers, which usually are able to save around 3-4 cryptocurrencies at the very same time.
The installation and setup of Cobo Vault is very simple. You just need to install the Cobo Vault mobile app, whereas you will receive a step-by-step-guide, which will lead you through the settings. Then you just need to set up your private key with the mnemonic tablet and the letters. Afterwards, you already can start with the transactions! For that, I roughly needed 15 minutes. A rather quick setup I would say!
As Cobo Vault is quite a new product, a lot of updates are still necessary. But personally, I am convinced, that this can be a great success, considering the various security options and precautions Cobo Vault is providing to safe the data of the customer. In my opinion, Cobo Vault is technically more advanced and long-term-wise a better investment than theNANO S Ledger, which I have.
With 299 Dollars per box the product is a bit pricy, but in my eyes a very good long-term investment, as Cobo is on the road to allow the storage of more and more cryptocurrencies by the time. With these tips and tricks you are easily allowed to make money in trade. Do not forget to use legal apps for the cryptocurrency transfer.