One of the big players in the cryptocurrency industry is Evercoin. Based in Silicon Valley, this innovative cryptocurrency exchange was founded by CEO Talip Ozturk. His company reflects his love of open systems. In return, he has led Evercoin to become a force in financial infrastructure and distributed computing.
The subject was Evercoin’s next-generation mobile hardware wallet. It is simply known as Evercoin 2. This is connected with making cryptocurrency more accessible to the general public.
A hardware wallet can be used to store cryptocurrency. It holds the owner’s private keys in a secure hardware device. Evercoin 2 will give mobile users the first “end-to-end” ownership solution for cryptos. The hardware wallet is the size of a standard house key. It will be powered by the security technology of Yubico as a business partner.
If someone loses a private key or password, Evercoin 2 can help in the recovery. More importantly, it will not expose end users to potential hackers. They have been able to steal cryptocurrency from accounts by hacking a two-factor authentication. They also acquire new mobile phone SIM cards as part of the theft. This has led to a $224 million-dollar lawsuit against AT&T. That case is being pursued by crypto investor Michael Terpin.
The upgrade to Evercoin 2 was announced at the recent New York Consensus Invest Summit.
Evercoin currently supports 20 different crypto assets, Most notably Bitcoin and Ethereum. One of Evercoin 2’s core features is mobile-first smartphone support. This is available for iOS and Android devices. The wallet lets users securely store their crypto assets. It also allows them to exchange 19 of the 20 supported crypto assets. The wallet also offers a banking link for fiat currency like the US dollar. This allows users to exchange fiat currency with cryptos both ways.
The new Evercoin 2 is a mobile wallet that provides a host of financial services. It is secured by hardware and fully controlled by the end user. It works in conjunction with all the attributes of a service such as Coinbase.
The company CEO added:
“Evercoin users deserve peace of mind. We protect users from hackers with YubiKey hardware. But we also protect them from accidents when they have lost their phone, their YubiKey or their password. Accidents do happen and we want to ensure that funds are always safe and recoverable.”
Yubico has grown to become a trusted hardware security provider among millions of users. This will be the first hardware wallet to use the new YubiKey 5ci for iPhone. It will employ USB-C for Android applications.
Evercoin’s company chair is Miko Matsumura. He commented:
“There is a saying ‘your keys your crypto.’ This means that if you don’t have the private cryptographic key, then someone else controls your Bitcoins. The problem is that people use to lose or mishandle these keys. What we’ve done is to partner with Yubico to turn their YubiKey into a hardware security device for storing Bitcoin and other cryptocurrencies.”