1inch is a DEX aggregator. Its main mission is to analyze decentralized exchange platforms. The goal is to offer traders the cheapest cryptos on the market. To set the tone at the start of the year, 1inch officially unveils its new hardware wallet. An initiative aimed not only at extending the activities of the ecosystem, but also at offering a secure device to users.
1inch hardware wallet in a nutshell
1inch received very little attention last year. His last known project was to launch a new one1Inch stablecoin with ICHI. To mark the occasion this year, the DEX aggregator offers its users a hardware wallet. Also known as a ‘physical wallet’ and ‘hardware wallet’, this is a credit card-sized device.
The 1inch hardware wallet features a 2.7 inch touchscreen. Cordless, it works with a rechargeable battery. This is a physical wallet offline. In other words, its use does not require an Internet connection.
As explained by the 1inch spokesperson, this new hardware wallet allows users to store private keys more securely. Since it is a wireless device, its owner will sign their transactions using a QR code or NFC technology.
A “multi-seed” portfolio
The 1inch wallet differs from the others by the fact that it is “multi-seeds”. This is because the 1inch DEX aggregator wants to avoid common issues with a storage device that only supports a seed phrase. Also, he wants to offer more convenience to users.
This new wallet will therefore support multiple seed phrases. 1inch hardware wallet even recognizes random word sequences. These are essential for accessing and recovering the assets stored in the wallet.
The launch of 1inch hardware wallet proves that the DEX aggregator intends to diversify its products and its activities. It remains to be seen when exactly this famous wallet will go on sale.
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