For as long as cryptocurrencies have started being traded on exchanges versus the early days where the only way to get coins was to mine, storing your bitcoin and crypto assets has been a top priority for any token hodlers. And if you have been in the industry for any length of considerable time, there are two to maybe three household-known hardware wallets to consider – Trezor and Ledger Wallet, and possibly KeepKey – but now BitFi looks to challenge the likes of the industry’s kingpins when it comes to secure, offline digital currency storage.

Let’s take an inside look at the unhackable, John McAfee backed-hardware wallet to see if it can rival Trezor and Ledger and possibly overcome them in marketshare.

John McAfee’s new BitFi wallet has received strong reviews at launch. “If you own cryptocurrency you need a BitFi wallet,” writes Rob Loggia at LoggiaOnFire.com.

Loggia, a member of the McAfee Crypto team and strong supporter of John McAfee, claims the wallet combines security and simplicity to deliver a superior crypto wallet experience.

Loggia claims you can’t even call BitFi a wallet. It’s so convenient that it’s more accurate to call it a “convenience device”:

“In fact, to call Bitfi a wallet is not 100% accurate, though it is necessary due to the way people think,” explains Loggia. “Bitfi is actually a convenience device, allowing ordinary people whose time is valuable to take advantage of the most secure scheme we have for storing cryptocurrency: a brain wallet.”

The pass phrase isn't stored on the https://t.co/ATFaxwUzQC server.The server could be hacked (all servers are hackable) and the hacker could get the pass phrase that way. I'm not stupid enough to risk a ton of money on something that is hackable. The phrase is only in the mind.

— John McAfee (@officialmcafee) July 27, 2018

BitFi’s wallet system offers the full security of a brain wallet while adding the conveniences of a live wallet. It’s an authentication device that uses a powerful processor to translate something your brain can store – like a sentence – into the private key used to verify address ownership. Since the key is never stored, written down, or seen, it cannot be stolen.

We created a simple, foolproof way to use the brain as the wallet. The https://t.co/ATFaxwUzQC wallet is the transcriber between the inner brain and the outer world of digital currencies. Until someone discovers a means of hacking the brain, your money is safe.

— John McAfee (@officialmcafee) July 20, 2018

The magic sentence exists only in your brain. With one sentence, you can protect an unlimited number of cryptocurrency wallets across any supported cryptocurrency.

Your only job with the BitFi wallet is to make sure you never forgot your sentence. Obviously, you should also not write your sentence down or tell anyone your sentence.

Because of the brain wallet-style system, BitFi is useless if someone steals it. Someone could find or steal your BitFi wallet, but it would be impossible to access the funds inside.

Everyone wants to know what happens if you lose your Bitfi wallet. All you do is get another one and type in the new device ID into the Dashboard. Nothing to restore, install or download. Your funds appear like nothing happened. Amazing shit! https://t.co/ATFaxwUzQC

— John McAfee (@officialmcafee) July 20, 2018

If you do lose your BitFi, you can still recover your funds. You can order another BitFi or use BitFi’x provided formula to manually calculate your private keys using your sentence.

Loggia explains the Bitfi unboxing experience and the payment process. One of the neat things about BitFi is that you don’t have to provide your name or other personal information. You can stay anonymous if you choose to do so.

Overall, Loggia described the payment process as “painless and unintrusive”:

“I was able to pay using Bitcoin, and did not even need to give them my name – just a shipping address.”

You can still order BitFi using any major credit card or debit card. However, to use a traditional payment card, you’ll need to enter your name along with your contact information.

After buying the wallet, Loggia claims post sale communication “was also excellent, with regular updates sent letting me know what to expect.”

BitFi shipped the next day and arrived 3 days later without incident.

The BitFi box includes the BitFi wallet itself, a case, a USB charger, a quick start guide, and a warranty card.

The BitFi device itself is described as “sturdy and well constructed.” It comes with a full color touch screen, making it easy to enter data into the device without using a computer and compromising security. It looks more like a tablet than a traditional crypto wallet.

Once you get your Bitfi wallet you will never have to purchase, download or install anything again. No firmware to update, nothing to restore. How quickly can we spread the word that crypto is actually safer than storing money in a bank? Get one at https://t.co/ATFaxwUzQC.

— John McAfee (@officialmcafee) July 20, 2018

The wallet ships with a charge. After getting the device, you just need to enter your Wi-Fi information via the touchscreen. Then, the device will connect to the internet and you can start loading.

“Within 10 minutes of unboxing my Bitfi I was already loading cryptocurrency.”

Loggia was impressed with the range of coins supported by BitFi. All major cryptos are supported by the wallet. However, there are still a number of cryptocurrencies that aren’t supported. BitFi plans to continue expanding support over time.

The author took particular issue with the lack of DogeCoin support. It’s one of the few major cryptocurrencies that isn’t supported by BitFi.

I have thought about many ways to keep our cryptocurrency safe. The only solution is having nothing to store your crypto in. Attackers cant take what’s not there. This was not possible before https://t.co/ATFaxwUzQC. Now you can store $100M in your brain and no one can touch it.

— John McAfee (@officialmcafee) July 20, 2018

In short, Bitfi is a brand new release into the crypto space so it has a long way to catch up to the lion’s share of the market that Ledger and Trezor hold today. But given the simplicity, interface and overall excitement regarding the recent release of Bitfi – on top of the unhackable caveat – there looks to be a new player in town to consider when you go shopping for your next bitcoin hardware wallet storage solution.

Overall, the BitFi wallet received the seal of approval from Rob Loggia in one of BitFi’s first major reviews online.

It’s important to note that Loggia is closely connected to John McAfee. He’s the Technical Advisor for the McAfee Crypto Team, for example, and he was part of the Core Team of John McAfee’s 2016 presidential election bid. Nevertheless, Loggia claims he is providing his honest opinion of the BitFi wallet, and that he purchased the wallet with his own funds.

You can view Loggia’s full review of John McAfee’s favorite, BitFi wallet here.

198 +