BitcoinWallets

BitStash Positions as Bitcoin Industry’s “Most Secure Storage Device”

Bitcoin storage solution startup eCoinConcepts says it will in 2015 be launching BitStash, a Bluetooth enabled consumer device designed for seamless and secure Bitcoin transactions.

BitStash can generate three tiers of secure storage for the user, a mobile wallet for spending on the go, a device wallet for daily trading or online shopping, and a cold storage wallet, on a LUKS encrypted USB drive for long-term, off-site secure storage.

The company reports it has created a working prototype of the wallet including electrical schematics, PCB design and production, fully-assembled devices with 3D printed cases, along with beta versions of software.

The three tiers of the BitStash wallets are BIP32 HD compliant and generate unique Bitcoin addresses for every transaction. The device supports Multisig P2SH transactions and the BIP70 payment protocol, which simplifies payment and check out process for consumers.

eCoinConcepts will be releasing APIs for BitStash in the first quarter of 2015 for other wallet vendors to integrate with the hardware.

BitStash will be distributed with wallet software for desktop and mobile devices, that display real-time balances in over 100 Fiat Currencies and support multi-sig coordination services.

eCoinConcepts’ two founders, Wall Street veterans Steve Swanson and Trevor Murphy, conceived of BitStash as a Bitcoin storage system to meet stringent government standards for security, resistant to hackers and other security threats. Swanson was Global Head of Electronic Trading at Citigroup as well as co-founder of ATD, and Murphy was co-founder of electronic trading platform TradingEdge. According to Crunchbase, BitStash raised $500,000 in seed funding in June 2014.

Murphy, who is also CTO, commented, “What we’ve created is a new, easy-to-use global solution that involves absolutely no third parties and comes with government-grade anti-theft security features like tamper detection and self-destruct circuitry, making this the ultimate way for customers to store and spend their Bitcoin.”

On the BitStash website, the company is promoting three versions of BitStash, all of which can be preordered. The first two versions, priced at $159 and $199, ship in May 2015. The most secure high end version, priced at $499, ships in November 2015.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.
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