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Today I am going to review BC Vault One hardware wallet. Whenever, I used to ask what are the best affordable hardware wallets without compromising security, I used to recommend Leger Nano X, Trezor model One. But, now I am adding another hardware wallet in affordable category and that is BC Vault One basic hardware wallet.
I found it, one of the best affordable hardware wallets. In this BC Vault One review, I am going to take you through all the pros and cons of this hardware wallet so you can decide whether to buy this cryptocurrency wallet or go for other options like Ledger Nano X or Trezor Model T (Those are the one of the best hardware wallets also).
When it comes to private operating system enabled hardware wallet, I recommend BC Vault. So let's know what are the pros and cones of BC Vault One hardware wallet.
Everything pertaining to this hardware wallet is not good. There are some cons of this device. Let's talk about this hardware wallet in details.
BC Vault Review
BC Vault One ratings:
Pros
- Multiple users can use it at a time
- Premium quality plastic body
- Reasonable price $140
- Unlike other hardware wallets, it generates separate private key for installed wallets
- Large 2.42 inches display. 41 grams weight
- Comes without serial number which means even company cannot know which device you are using
- Non-deterministic wallet with unique and safe recovery seed generation method
- Over 2000 coins and tokens support and all are accessible from their official app
- 1 BTC preloaded, unlock and it is yours as a bounty
- Can be used as Google security key
- Can hold up to 2000 wallets at a time
Cons
- Recovery backup needs to be refreshed every time you install a new wallet
- No battery, no wireless connectivity
- No mobile application
In the Box
You will get following things in the BC Vault One Box:
- The BC Vault One hardware crypto vault
- Sticker
- USB C cable
- User manual
- 1 GB microSD card
- 1 webcam safety cover
BC Vault One Price
Starting from the price tag. its price is €131.1. In USD, you would be required to pay around $140 and if you are going to buy it in Indian currency, it would be around ₹11000.
I recommend buying this device directly from the official website of BC Vault because of the security concerns.
Don't forget to claim discount while buying the device, find the BC Vault promo codes at the end.
Design & Features
BC Vault One display size is 2.42 inches. Display size is quite large even BTC and other coins full address can be seen easily.
It has directional keypad and, in the center, you have one button for confirmation purpose. Directional keypad will be used for navigation purpose and center button would be used for selection and payment confirmation.
You have an SD card slot to insert a card for backup purpose. For generating a backup, you will use this SD card slot.
For your information with this hardware wallet, you will receive 1GB card for free. And you will be using this card to save recovery seed backup. You can create more than one backups in this hardware wallet.
It has type C connector which will have a temper proof seal. Make sure the seal is there if it is not then do not use this hardware wallet. It would be tempered.
Material of the body is plastic and the plastic used is quite premium. Quality of the plastic is quite satisfactory. It is not that cheap and it is really good when you hold it in your hand it gives you at some extent premium feeling.
Also, it has flip screen option. BC Vault One is designed for left-handed people and as well as for right-handed people.
For example, if you are a left-handed person, in case of me, I am a left-handed person and I can easily use this device easily, thanks to its flip screen option.
Most of the companies ignore this very basic thing. They always design devices considering right-handed people. They never think of left-handed people. I think BC Vault team has a person or any team member who is left-handed, this is why, I think they have thought about this. Just kidding!
But this is a really very appreciable thing. What they did is this device can be used by left-handed people as well as for right-handed people because of flip-screen functionality.
BC Vault One hardware wallet weighs 41 grams. It is very light in weight. For example; in last video, I have reviewed BC Vault Gunmetal Customized hardware wallet whose weight was 85 grams, as compared to that, model One weight is half and its price is also half, I mean one third.
Multi-user Wallet
It is a multi-user hardware wallet which means multiple users can use it. Your friends or family members can share this hardware wallet. If your friends or family members would like to use your hardware wallet to store their coins, they can also use BC Vault hardware wallet because at a time different wallets can be generated. Your private will remain separate from theirs.
Up to 2000 different wallets can be generated.
BC Vault One Supported Coins
When it comes to coin support, it supports more than 2000 coins.
And what is the best part?
All the supported coins are directly accessible from one single official app.
You don't need to use third-party apps to access coins including ERC20 or Cardano tokens. You can use their official app and all the supported coins will be listed there. In some famous hardware wallets, you have to use third-party apps to access some coins. But, not in the case of BC Vault One. In BC Vault hardware wallet, all the coins directly accessible from the official app which is a very good thing.
Get BC Vault supported coins list here.
Security Key Feature
For your information, this device can also be used as a security key. In my recent video, I showed you how you can use Trezor One as your Google security key. In similar way, this hardware wallet can also be used as a security key.
You can use BC Vault One as your hardware wallet and at the same time you can use it as your Google security key.
As you might already know to buy security key, you have to spend approximately $100. But, when you have U2F enabled BC Vault hardware wallet, you don't need to spend extra money.
You can use it with different services like Google and other services.
When you're investing in a hardware wallet and you are getting an extra feature, it is great.
There is a good thing about the hardware wallet, for data retention they use Ferromagnetic Random Access Memory technology which retains data for more than 200 years at 35 degree Celsius temperature. It can retain data for 200 years after disconnecting to the power.
Is BC Vault One Secure?
So now let's talk about its security due to which we buy a hardware bullet. Without this, there is no reason to buy a hardware wallet. This is the main reason which is why we buy a hardware wallet (to safeguard our coins).
We know online wallets are not safe, exchanges are not safe. This is why, we buy a hardware wallet. Therefore, we cannot afford to ignore security.
Gyro Sensor for Recovery Seed Generation
Starting from the recovery generation method , it uses a built-in gyroscopic sensor to generate private keys.
To generate your private key, you will be required to shake this device. By shaking the device, you will generate a backup key or recovery seed for your BC Vault hardware wallet.
In other hardware wallets like Trezor, Ledger (this does not mean their generated seeds are unsafe, they are equally safe and secure too, it just uses unique method), all you need to do, at the time of setting up, generate 24 words recovery phrase or seed and write that seed.
But, in case of BC Vault One, you shake your hardware wallet and you generate a key and that key can be backed up in memory card by using the provided SD card slot.
Here in BC Vault, you would not be writing any 24 words recovery phrase. Yes, you can use QR codes as backup or alternatively you can use a memory card to store backup.
For your information, you can create more than one backups.
BC Vault One has 1 Bitcoin Preloaded
Most interesting thing, I would like to talk about is all BC Vault hardware wallets come with one preloaded Bitcoin. In this hardware wallet too, when you will install their official app, on the dashboard of the app, you will find one BTC there and that BTC will be locked.
If you would be able to unlock that Bitcoin that would be yours.
This thing shows that BC Vault team trusts their hardware wallets so badly and they are sure that they have designed this hardware wallet with the best possible security. This is why, they are sure and this is why, they have preloaded one BTC. This thing alone shows how secure BC Vault hardware wallet is.
Non-deterministic hardware wallet
It is non-deterministic hardware wallet. As you know all human beings shakes in different manners. No two people can shake their hands in the same manner. By using the same technique or method, they help you generate a different unique recovery phrase. And that recovery phrase can be backed up in memory card or in the form of QR codes.
Multiple Layers of Security
All the BC Vault hardware wallets has five layers of security. First level of security would be your backup that you would be using in case your device is broken stolen or it is lost.
Second layer of security would be your global password. To access all the wallets, you will be required to enter a global password.
Third layer of security would be your PIN. After entering the password, you would be required to enter pin. That would be your second factor authentication.
Third and fourth layer is optional. In the fourth layer, what you can do, you can set a different password for all different installed wallets. For example, you can set passwords for all the installed wallets.
In fifth layer, you can set PIN for all your installed wallets.
Fourth and fifth layer of security is an optional feature and I would only recommend you to use that option if you are an advanced user.
If you are a basic user never use that option because by doing so you have to remember so many passwords. If you failed to remember any password then you would end up losing associated wallet coins.
Let's say you forgot password of Bitcoin wallet then that wallet's assets or coins will be lost forever. There would be no other way to recover those passwords.
So make sure if you are going to set passwords for different apps, you remember all those passwords.
Secure from Remote Attacks
Like all other hardware wallets, as you know to move your assets from a hardware wallet, you need to press physical buttons and in case of BC Vault One too, you have to press the buttons.
This is why, it is impossible to control this device remotely. To move assets from this device, you have to press the physical buttons. Without having physical access to this device, no one can transfer coins.
Private Keys are Stored In Isolated Space
Also, just like in all other hardware wallets, private keys are stored in this hardware wallet remain offline all the time. No matter, it is connected to the internet or not, your private keys will remain offline in an isolated space.
Even if you are moving your assets or receiving coins, your private keys will remain secure.
No Serial Number
Another thing, I would like to talk about is BC Vault never generates serial numbers for their hardware wallets. Therefore, once device is dispatched to the customer and customer starts using this hardware wallet, company would never be able to know which hardware wallet you are using. By this thing, company would not be able to track you, if it would be, then it would not be able to know who exactly is using this hardware wallet because they do not have serial numbers.
Also I would like to tell you if you are going to use their app, your personal information or any sensitive information would not be stored in their server. Only public information that is available on the internet will be shared through the app.
Is BC Vault open source?
My only concern is their operating system is private and isolated. Just like iPhone, their operating system is also private. I am always biased toward open source operating systems. But when it comes to private operating systems, I think BC Vault is trust-able because it has one BTC already preloaded. If they are not sure that their hardware wallets are not safe then they would not be adding one BTC to all their hardware wallets.
If you could crack their algorithm then that Bitcoin would be yours. That is a good thing to trust a private operating system enabled hardware wallet.
They think that open sourced operating systems are easily vulnerable because an ill-minded only needs to read their code to find the flows. But when it comes to private isolated operating systems, first a person needs to get access to that code before he rolls up his sleeves.
That is their justification for using private operating systems and I am quite satisfied.
They opted private OS for their hardware wallets and it is their choice. In the same way, it is up to you whether to go with private OS enabled hardware wallet or open-sourced.
BC Vault One is manufactured by Real Security Solutions who has 20 plus years of experience in providing IT security solutions.
Buy Authentic Wallet Only
Also, when I am talking about security make sure you buy this device directly from their official website. This is very important to buy an authentic hardware wallet and an authentic hardware wallet can be bought, where you are 100 sure, directly from the manufacturer.
I recommend you buying BC Vault One directly from their official website. Here is their official website link.
When you will receive this product make sure you have temper proof seal and make sure this seal is not tempered. If it is tampered then don't use the hardware wallet and contact the company.
Should You Buy BC Vault One?
In my opinion, it is a value for money product just because of its features and quality of the material. Yes, you can buy it from their official website.
I recommend this hardware bullet if you are searching for an affordable hardware wallet under your budget.
If you can afford you can think of BC Vault Gunmetal customized model. I have reviewed that hardware wallet too. That hardware wallet is also very good which comes with customization option.
You can get your logo engraved on the body of the hardware wallet which makes that hardware wallet so beautiful.
Is BC Vault a cold wallet?
BC Vault One is a cold wallet. Actually, all hardware wallets cold store cryptocurrencies and that is the reason, hardware wallets are recommended for safely storing coins.
Drawbacks
One major drawback of BC Vault One hardware wallet is that every time you will install a new wallet in your hardware wallet, you will be required to refresh the backup you would have stored in your memory card. Backup would need to be refreshed every time you install a new wallet.
This is not a good thing, in my opinion, because for a basic user it is difficult. Although, their apps shows the warning message for the same but still he might skip this refresh backup thing and may be in future he would lose access to newly added funds.
I think BC wallet should work on this thing. After creating a backup, there must not be any need to refresh that backup, in future.
The third drawback of this hardware wallet as I told you their operating system is private. It is their choice and at the same time it is your choice whether to buy a private operating system enabled hardware wallet or go for open sourced hardware wallet.
Both both operating systems have their own pros and cons. You need to decide whether you would like to go with private OS or private operating system.
If you would like to buy BC Vault One hardware wallet then use following buy button to reach on their official website and don't forget to use discount coupon.
BC Vault Discount Code
Click on the above buy link and use following BC Vault discount codes to get up to 20% discount:
- 10% for BC Vault ONE coupon code: CRYPTOWONKONE
- 15% for BC Vault coupon code: CRYPTOWONKPREMIUM
- 20% for BC Vault coupon code: CRYPTOWONKCUSTOM
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