DeFi Protocol 1inch Launches Hardware Wallet

DeFi Protocol 1inch Launches Hardware Wallet

Decentralized exchange (DEX) aggregator 1inch Network has announced the launch of its own hardware wallet. The 1inch Wallet will allow users to store and manage their cryptocurrency assets securely offline.

Supported by the 1inch Foundation, the wallet comes “fully air-gapped,” which means it neither has any direct connection with the internet nor requires a wired connection. Data can be exchanged through QR codes or with NFC.

1inch wallet
source: 1inch

The proprietary technology allows the storage of multiple addresses for different cryptocurrencies, providing users with added flexibility and control over their assets.

One of the key features of the 1inch Wallet is its integration with the 1inch Network’s DeFi platform. The integration allows users of the DEX to easily access and utilize the platform’s decentralized trading and liquidity services directly from their hardware wallet, streamlining the process of managing their assets and gaining access to DeFi services all in one place.

In terms of design, the wallet is roughly the size of a bank card, weighing in at 70 grams, and 4 millimeters thin. Coming in 5 different colors, the wallet features a damage-resistant Gorilla Glass 6 2.7-inch E-Ink grayscale touch display and a stainless-steel frame.

1inch wallet
source: 1inch

The cold wallet will go on sale later this year on the 1inch Network website and will be compatible with Windows, Mac, and Linux operating systems.

Users can sign up for the waitlist here: https://hw.1inch.io/

Self-custody booms

Several web3 firms have started promoting their hardware wallets amid the rise of self-custody, contributed by the distrust towards centralized crypto exchanges. Existing players like Ledger and Trezor hugely benefitted from the collapse of FTX in Nov. 2022. 

The 1inch Network is a DEX aggregator that sources liquidity from multiple DEXs to provide users with the best prices for their trades.

Disclaimer
All articles published on Coinmash are strictly for informational purposes only. Coinmash has no involvement with any assets discussed and urges everyone to do their own research before making any financial decisions.

AUTHOR