Bitfi wallet

About

Bitfi Wallet is a cryptocurrency wallet that was established by Daniel Khesin and Michael Strong with a mission to offer people full control of their crypto investments through self-custody and enhanced security. This hardware wallet comes with a novel architecture where it does not store any private key on its device. The goal is to minimize the dangers of using hardware wallets and ensure secure access to digital currencies anywhere in the world. Bitfi Wallet is compatible with a variety of cryptocurrencies, including Bitcoin, Ethereum, Binance Smart Chain, Litecoin, Dash, ERC-20, BEP-20, and others, which makes it a perfect choice for crypto investments. Bitfi Wallet Details Attribute Details Wallet Type Non-Custodial Hardware Wallet Core Focus Secure self-custody storage and management of cryptocurrencies Primary Use Case Offline storage, sending, receiving, and managing digital assets Supported Cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH), Binance Coin (BNB), ERC-20 tokens, BEP-20 tokens, and other supported digital assets Blockchain Support Bitcoin, Ethereum, Binance Smart Chain, Litecoin, Dash, and other supported networks Token Standards Supported ERC-20, BEP-20 Operating System Compatibility Android, Web Browser, Desktop (supported interfaces) Security Features PIN protection, password authentication, encrypted communication, secure login, hardware-level security Recovery Method Authentication-based recovery process rather than relying solely on a traditional recovery seed phrase Authentication User-defined credentials (username, password, and additional authentication factors) Best For Long-term investors, Bitcoin holders, crypto traders, security-conscious users, and diversified crypto portfolios Supported Functions Store, send, receive, secure, and manage cryptocurrencies Bitfi Wallet Key Features • • Provides users with complete control over their cryptocurrency investments without any need for a centralized exchange. • Creates wallet credentials via the process of authentication rather than storing the private keys on the device. • Allows users to recover wallet access using authentication credentials rather than the usual seed phrase method. • Employs various authentication levels to safeguard digital assets. • Offers a simple but user-friendly interface for everyone. • Enables quick and secure transfers of supported crypto on the platform. • Protects the privacy of users through minimal collection of their information. Bitfi Wallet Milestones Year Achievements 2018 Bitfi was created by Daniel Khesin, Michael Strong, and Ignas Jurkonis in Miami. Launched its smartphone-style hardware wallet with a marketing campaign led by John McAfee. 2019 The company launched Bitfi Knox (V2), released its DMA-3 firmware as open source, and replaced the seed phrase storage with a stateless passphrase generator/SALT. 2021 Partnered with the XDC Network (XinFin) to build specialized hardware wallet infrastructure for institutional blockchain protocols. 2023 The platform fully adopted the widely reviewed DMA3 v114 firmware. Expanded native multichain support, making it easier to manage assets across dozens of blockchains while reducing the risk of physical key theft from the device. 2024 Bitfi ventured into the CeDeFi realm by launching yield generation and digital asset management products.

Funding

• Seed RoundFundamental Labs025 Jul 2024
• Seed RoundIBC Group Ventures025 Jul 2024
• Seed RoundCGV FoF (Cryptogram Venture)025 Jul 2024
• Seed RoundTyreGate Capital Group025 Jul 2024
• Seed RoundCitizen Journalism Network Accelerator (CJNA)025 Jul 2024

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