BitLox is a Hong Kong-based start-up, launched in January 2015 and registered to Mr Dana L. Coe. It offers a hardware wallet that aims to provide more advanced security features compared to conventional models. Users can choose between the BitLox Advanced, BitLox Ultimate, and BitLox Extreme Privacy set. Due to its high price, and the fact that it has not been in the market for long, BitLox wallets are one of the smaller names in the hard wallet market.
As a hardware wallet, BitLox allows you to store your bitcoins offline, removing the possibility of your funds being stolen by malicious hackers, which is a common threat if funds are stored online. With BitLox, you have total control over your private keys securing your coins, allowing you to receive and send bitcoins without having to expose your private keys to the internet.
BitLox is specifically limited to helping you store and transact bitcoin. However, the company have indicated that they soon intend to provide Ethereum and altcoin support.
BitLox works with any device. For computers and laptops, there is a Chrome Extension that you can download and use through a USB connection. Alternatively, the BitLox is also Bluetooth compatible, allowing you to use smartphones and tablets with your wallet through connectivity with native companion apps for iOS and Android. Therefore, you can conveniently use BitLox with the following devices:
Being a hardware wallet, BitLox can be used anywhere in the world. However, it might not be available in your country for delivery, so be sure to check on their website that they can ship to your country.
BitLox allows users to contact their customer support team through email at [email protected] or by submitting a ticket request through their website. Alternatively, users might find that their low-level queries might already be answered in their various guide sections, such as the ‘How-to Videos’ or ‘User Manual’ on the BitLox website.
BitLox is a small, portable device that helps you get easy access to your funds by storing your private keys securely. BitLox wallets are the size and shape of a debit card, meaning you can easily carry your coins around with you in your wallet. It also comes with a large e-paper screen alphanumeric keypad.
The hardware wallet itself comes in a titanium casing, which makes it extremely durable. The BitLox team have even claimed that it is ‘indestructible’. In terms of keeping your bitcoins safe, BitLox has the following security features:
Cold Storage. BitLox helps users keep the private keys associated with a user’s bitcoins in a secure, offline location, preventing online interference.
To use BitLox on your computer, you will need to download the Chrome Extension Wallet. You can find this on the Chrome web store and it will enable you to connect to BitLox through the USB port. Alternatively, if you want to have a look at your funds on your phone, you can download their native Android or iOS apps, which can help you manage your BitLox through Bluetooth connectivity.
Yes. You can use your 12, 18, or 24-word recovery phrase as a way to back up your funds, as it can be used to recover your private keys in the event you lose your wallet through using a compatible Hierarchical Deterministic (HD) wallet. Alternatively, you could also use their chrome app extension or native mobile app too.
Yes. A BitLox wallet can be used anonymously by virtue of the fact that it is a hardware wallet. When transactions are made with the BitLox wallet, all that displays on the blockchain is the wallet’s public address, as opposed to any personal information.
To increase your anonymity, BitLox can be used with Tails through a Tor network connection. Tails is a revolutionary live operating system that can be used to leave no trace of your browsing history on the computer you use.
No, there are no extra fees to use BitLox besides the cost of buying it. However, when moving funds in and out of your wallet, you will notice that you incur a network transaction fee, approximately under £2, depending on the network traffic at the time. Additionally, BitLox will show you your estimated transaction fees before you proceed with a transaction.
With BitLox, there is no limit on the amount of bitcoins you can deposit or withdraw. A hardware wallet only stores your private keys. Your cryptocurrency is actually kept on the blockchain, together with the transaction history.
BitLox wallets come in three distinct models: BitLox Advanced, BitLox Ultimate, and BitLox Extreme Privacy Set. The prices are listed in dollars, and they cost $98, $148, and $198 respectively. There may also be additional delivery fees depending on the country in which you are located.
What are the differences between the BitLox wallets available?
Between the three Advanced, Ultimate, and Extreme Privacy Set models, there are no technological differences in regards to the hardware wallet itself. However, the Ultimate and Extreme Privacy Set come with external cases used to store the hardware wallet. For example, the Extreme Privacy Set comes with a USB vault that has the Tails OS preinstalled.
Given the above, it is recommended that users simply go with the BitLox Advanced model, as it is much less expensive and carries the same technological features as the Ultimate and Extreme Privacy set versions.
BitLox integrates a myriad of additional features into the application and use of the wallet. These include:
The BitLoxcomes across as a trustworthy hardware wallet that can be used to store your Bitcoins. The wallet itself contains the latest security features on the market, including the option of having a recovery seed phrase and a PIN. These features allow users to keep their private keys offline and in a safe location, preventing hackers from potentially accessing their funds. However, it falls short in that it can only store Bitcoin, whilst most competitors offer storage of private keys for many other cryptocurrencies within the same hardware wallet.
It is also an extremely convenient wallet that can be used on-the-go, due to its shape and size, as well as the option of managing the hardware wallet through a companion mobile app using Bluetooth technology. Usually, there is a trade-off between convenience and security, but Trezor offers the best of both worlds. This is thanks to their wallets’ combination of an easy-to-use physical design, compatibility with all major operating systems, and the security features of the software that powers each Trezor wallet. The Model T provides the best user experience, but both wallets are straightforward to use.
Ultimately, considering its high price and lack of altcoin support, it is understandable that BitLox is not a relatively large name in the hardware wallet market.