At the New York Consensus Invest Summit, Evercoin announced Evercoin 2, the “safest hardware wallet”. Evercoin 2 provides a wallet and exchange for bitcoin and other cryptocurrencies featuring a hardware wallet the size of a house key powered by YubiKey 5ci, the first implementation of its kind. Prior to this, users wanting hardware security relied on large, difficult to use and not mobile-first first-generation hardware wallets like Ledger and Trezor. Now every compatible YubiKey owner can download a free hardware wallet.
“Evercoin provides all of the financial services users expect from a service like Coinbase, but for the first time ever in a mobile wallet, secured by hardware and fully controlled by the user. Evercoin currently supports 20 assets including Bitcoin and Ethereum,” the company said. Here are some of the threats we the company wants to address with the new combined offering from Evercoin and Yubico:
Hack attacks: Hackers can gain access to private keys, the result can be a total loss of all assets.
Exchange hacks: Crypto exchanges can be hacked or go out of business causing loss of funds.
Key loss: Users can lose all of their assets by forgetting private keys, losing paper wallets, exposing keys to bad actors, losing hardware devices. Chainalysis estimates that 2-3 million bitcoins have been lost permanently in this way.
Other user errors: Users can input the wrong address when sending transactions
Volatility: Volatility of crypto prices can dramatically crash the value of user assets.
ID Theft: Hackers can steal a user’s account and identities thus enabling a host of attacks on the user’s accounts and assets.
“Wrench” attacks: Attacks involving a physical threat to your person.
Phishing Attacks: User email and social networking accounts can be compromised and information and assets can then be stolen from their friends and social networks.
“Evercoin users deserve the peace of mind. We protect users from hackers with YubiKey hardware—but we also protect them from accidents when they have lost their phone, their YubiKey, or their password,” said Talip Ozturk, Founder, CEO of Evercoin. “Accidents do happen, and we want to ensure that funds are always safe and recoverable.”