The Bitfi Technology

The Bitfi Technology

The Bitfi hardware wallet is a breakthrough technology that offers a rare combination of the most advanced security (better than any form of cold storage) for private and enterprise use and is remarkably simple to use requiring no tech knowledge at all.

Bitcoin is likely the greatest innovation of the 21st century. It is the most ideal financial asset that encapsulates technological innovation and store of wealth with a myriad of benefits for every individual and society as a whole. Individuals are able to store and grow their wealth in an ultra secure network that is orders of magnitude more advanced than the security of any financial institution while providing the pinnacle in privacy and wealth protection that beats the most reputable Swiss banks. The block chain technology that is the backbone of Bitcoin is a fully self sustaining network that offers protection from inflation of fiat currencies and other assets and will ultimately enable billions of people to participate in the global economy who currently have no access to banking. The fully decentralized and self sustaining nature of Bitcoin makes it the most protected and secure financial instrument. This is all just the beginning and the blockchain technology pioneered by Bitcoin has unleashed a new era of applications that will change life as we know it. Read more

Bitfi Comparision Chart

Bitcoin Hardware Wallet

The device does not store and has no way to store private keys, therefore an online attack is not possible.

If the device is seized or stolen, taken apart and forensically analyzed the private keys cannot be retrieved.

Requires nminimal technical skill. Low risk for lost funds due to user error.

If device is seized, lost, or stolen the funds are completely safe. User can just order a new device and continue to use their original secret phrase or use Bitfi Open Source resources to retrieve their private keys and access funds.

User can commit their secret phrase to memory and then access their funds at any time, even years later. It doesn’t matter if device is lost or missing.

When using the device, very easy to operate through an intuitive interface. As easy as sending an email.

No way for attacker to access funds stored by device either online or locally.

Very low cost and no security weaknesses, easy to use.

Bitcoin Hardware Wallet

Takes minutes to set-up and will support an unlimited number of cryptocurrencies and crypto assets. Following simple steps, there is no risk of compromising security during set-up.

The secret phrase controlling all currencies and assets can be easily memorized. If device is lost or stolen funds are completely safe.

A single secret phrase supports an unlimited number of cryptocurrencies and crypto-assets.

Is equally convenient for long term storage and frequent daily transactions. Security is never compromised.

Sending funds is as easy as sending an email and requires no technical skill or complicated steps.

Private keys can never be exposed and are not stored anywhere, ever.

No possibility of attack since user never has to download or install anything at all to use wallet.

Low cost and no security weaknesses, easy to use.

Air-Gaped Computer

Since it is a dedicated computer for storing cryptocurrency that has never been connected to the internet there is no possibility that the machine can be hacked.

If the device is seized or stolen and taken apart, forensic analysis can recover private keys. The air gapped computer only provides protection if it can be kept safe in the local environment.

Requires a high level of technical skill. If a strict protocol is not followed funds can be lost.

If computer is seized, lost or stolen the funds stored on this machine are likely permanently lost unless a back-up was made. In this case the back-up itself is a security risk depending on where it is being stored.

User must rely on keeping their “air gapped” machine safe at all times and in their possession. Without the machine funds cannot be retrieved.

Very difficult to operate when funds need to be moved. User error can cause funds to be lost.

Many identified weaknesses and attack vectors that make this solution prone to security risks.

Very high cost and many security weaknesses.

Paper Wallets

Requires the user to follow a careful protocol when creating paper wallet to insure information is not intercepted online, over WiFi, and in the local memory of printer. This must be repeated for every currency.

Document can be lost or stolen. Can also be destroyed in a fire or flood and if there are no back-ups funds are permanently lost.

Need a separate paper wallet for every currency.

Is only useful for long term storage and cannot be reused. Once funds are sent out of paper wallet a new one must be created each time.

Requires a complicated procedure to move or spend funds in paper wallet. Sweeping wallet can expose your private key. Risk of losing funds.

Private key is exposed unless the paper wallet is encrypted. Private key can also be exposed during set-up.

Risk of using a spoof or phishing website with malware. Attacker can steal all funds from wallet.

Free but difficult to use with multiple security weaknesses.

Bitcoin Hardware Wallet

The device does not store and has no way to store private keys, therefore an online attack is not possible.

If the device is seized or stolen, taken apart and forensically analyzed the private keys cannot be retrieved.

Requires nminimal technical skill. Low risk for lost funds due to user error.

If device is seized, lost, or stolen the funds are completely safe. User can just order a new device and continue to use their original secret phrase or use Bitfi Open Source resources to retrieve their private keys and access funds.

User can commit their secret phrase to memory and then access their funds at any time, even years later. It doesn’t matter if device is lost or missing.

When using the device, very easy to operate through an intuitive interface. As easy as sending an email.

No way for attacker to access funds stored by device either online or locally.

Very low cost and no security weaknesses, easy to use.

Bitcoin Hardware Wallet

Takes minutes to set-up and will support an unlimited number of cryptocurrencies and crypto assets. Following simple steps, there is no risk of compromising security during set-up.

The secret phrase controlling all currencies and assets can be easily memorized. If device is lost or stolen funds are completely safe.

A single secret phrase supports an unlimited number of cryptocurrencies and crypto-assets.

Is equally convenient for long term storage and frequent daily transactions. Security is never compromised.

Sending funds is as easy as sending an email and requires no technical skill or complicated steps.

Private keys can never be exposed and are not stored anywhere, ever.

No possibility of attack since user never has to download or install anything at all to use wallet.

Low cost and no security weaknesses, easy to use.

Air-Gaped Computer

Since it is a dedicated computer for storing cryptocurrency that has never been connected to the internet there is no possibility that the machine can be hacked.

If the device is seized or stolen and taken apart, forensic analysis can recover private keys. The air gapped computer only provides protection if it can be kept safe in the local environment.

Requires a high level of technical skill. If a strict protocol is not followed funds can be lost.

If computer is seized, lost or stolen the funds stored on this machine are likely permanently lost unless a back-up was made. In this case the back-up itself is a security risk depending on where it is being stored.

User must rely on keeping their “air gapped” machine safe at all times and in their possession. Without the machine funds cannot be retrieved.

Very difficult to operate when funds need to be moved. User error can cause funds to be lost.

Many identified weaknesses and attack vectors that make this solution prone to security risks.

Very high cost and many security weaknesses.

Paper Wallets

Requires the user to follow a careful protocol when creating paper wallet to insure information is not intercepted online, over WiFi, and in the local memory of printer. This must be repeated for every currency.

Document can be lost or stolen. Can also be destroyed in a fire or flood and if there are no back-ups funds are permanently lost.

Need a separate paper wallet for every currency.

Is only useful for long term storage and cannot be reused. Once funds are sent out of paper wallet a new one must be created each time.

Requires a complicated procedure to move or spend funds in paper wallet. Sweeping wallet can expose your private key. Risk of losing funds.

Private key is exposed unless the paper wallet is encrypted. Private key can also be exposed during set-up.

Risk of using a spoof or phishing website with malware. Attacker can steal all funds from wallet.

Free but difficult to use with multiple security weaknesses.

Bitfi Wallet Demonstration

How To Use The Bitfi Wallet From Beginning To End With Co Founder Daniel Khesin on the CryptoMug Investors Video Podcast.

Bitfi Hardware Wallet Features

Private Keys never permanently stored

The Bitfi does not permanently store your private keys. Ever. Your digital assets are stored on the Blockchains, when you want to make a transaction with your assets (move them, sell them, etc.) you simply enter your 6-character (minimum) SALT and your 30-character (minimum) PASSPHRASE into your Bitfi Legacy device which will then calculate your private key for any given token “on-demand” and then immediately expunge that private key.

Your private keys are never permanently stored on the Bitfi, never left on the Bitfi, and are never sent in a transmission from the Bitfi device to the Blockchain to control your assets.

The process looks like this:

  1. User wants to move/sell their Bitcoin
  2. In the Bitfi wallet interface, users choose SEND and inputs a sending (public key) address in their Bitcoin wallet
  3. A signing request is sent to the Bitfi device
  4. User inputs their SALT and PASSPHRASE into their Bitfi device
  5. The Bitfi device calculates the private key, and sends an “okay” to the blockchain to release Bitcoin to desired (sending to) public address
Auto-Updates

We can all agree that no matter how secure a hardware wallet is, it is user error that can be the biggest cause of lost or stolen funds. Through an extensive security process, we have cut that anxiety producing risk factor out of the equation. The Bitfi updates itself. You heard us, it updates itself! There is no need to manually download and install firmware or bridges, or delete and add token apps in order to keep your device up to date. All you have to do is turn on the device and make sure it is connected to a Wifi network, the device does the rest!

Not only is this a flawless experience for the user, it is also secure. Our software is sent through discreet nodes the devices are hard coded into, and contain private key signatures that require a multi-verification process for any Bitfi device to connect to and eventually accept. Corrupt or rogue updates/malware do not have the required digital signatures and are quickly rejected by your device.

WiFi enabled

Although the Bitfi was designed to secure your legacy of wealth lifetime after lifetime after lifetime… the Wifi connection makes it incredibly convenient to control your digital assets through a discreet and secure mini computer in your hands.

There is no need to connect your Bitfi wallet to a computer with a cable. Wherever you are, your wallet always works wirelessly over any WiFi network. No more messy wires. But the primary reason Bitfi is designed as a wireless device is to completely isolate the most critical functions from the computer so that there is no possibility of exposure to malware.

Because Wifi networks themselves are not very secure, we designed Bitfi as a calculation tool, not a storage device. The device only transmits approvals (not private keys) to the blockchain for transaction, and the Bitfi wallet interface can be viewed by any IoT device (mobile, tablet, desktop, laptop).

Single-User Interface

The Bitfi ecosystem features a single-user interface that does not require any other third-party plugins or software to be used or installed. All tokens are added automatically by our engineering team and the user can interact with any Crypto Asset the Bitfi secures through the native Bitfi interface.

Other than offering high security and ease of use, managing your money should be efficient and productive. With the Bitfi wallet you can view all of your balances at a glance and quickly switch from one cryptocurrency to another whether for personal or business use. The intuitive interface allows you to interact with all of your assets in a simple and convenient manner, much like when using an ATM machine or when you log into your bank account, everything is clear and easy to navigate.

Unlimited Wallets

Your entire family can secure their crypto investments from a single Bitfi device. Every Wallet you create is controlled and accessed by your own custom 6-character SALT and 30-character PASSPHRASE. Create as many Wallets as you need (just remember to back up all of your SALT/PASSPHRASES for each Wallet created).

Incredibly Fast

Your Bitfi is fast, really fast. As part of our ongoing program to support our users we provide services via our dashboard and bring together the best technical resources without charging any subscription fees. Your wallet dashboard rapidly scans all blockchains to show your balances and is regularly updated so that your experience and interaction with your crypto assets is always, fast, flawless and seamless. Indeed this is the way it should be and ushers in the full promise and potential of the emerging blockchain economy.

Open Source

The most important mission of Bitcoin and other crypto-assets is to place the control over money into the hands of the individual and to end reliance on third parties. Therefore any robust and ultimate wallet must be completely Open Source so that you continue to have control over your funds even if the manufacturer of the wallet no longer exists. No matter what happens to Bitfi or to your Bitfi wallet, your funds are forever safe. You can at any time use your secret phrase to calculate your private keys using the Open Source resources published on btknox.org which shows simple step by step instructions on how to obtain your private keys and access your crypto assets in the event of any emergency. (We recommend that all users download and retain a copy of these tools).

Unlimited Crypto Asset Support

Unlike ordinary hardware wallets that can only store a limited number of folders (and then you have to delete them and install new ones in order to view other cryptocurrencies), the Bitfi wallet will support all currencies and assets in a single device, under a single secret phrase. As we add support for additional currencies and assets over time, they will all be supported by your device without the need for you to do anything, download anything, or install anything. Just continue to use your original secret phrase to control any new crypto assets that appear in your Dashboard over time.

Device specifications

Device specifications are as follows:

Dimensions: 6.7cm (2.64″ in.) wide x 11.5cm (4.53″ in.) tall x 0.8cm (0.32″ in.) deep

Battery: Will charge fully within 1 hour and last approximately 10 days in standby.

CPU: Quad-Core CPU

WIFI: 2.4G

Display: 3.95″ Touch Screen (narrow viewing angle for enhanced security)

Display manufacturer specs:

Bitfi Live Dashboard

Manage your crypto with the most secure system ever created

Unlike ordinary hardware wallets that can only store a limited number of folders (and  install new ones in order to view other cryptocurrencies), the Bitfi wallet will support all currencies and assets in a single device.

Bitfi Live Dashboard

Manage your crypto with the most secure system ever created

Unlike ordinary hardware wallets that can only store a limited number of folders (and  install new ones in order to view other cryptocurrencies), the Bitfi wallet will support all currencies and assets in a single device.