Litecoin Foundation has introduced a crypto-tablet in collaboration with Cobo. Litecoin brand logo will be inscribed on the top of the tablet. The tablet can be used to secure recovery phrases for open source wallets.
The tablet offers a secure way of storing the cryptocurrency pass-phrases which are generally susceptible to theft and damage if not stored properly. The new tablets are developed with 6-series aluminum that is used on airplanes. Furthermore, it is not only water resistant but also acid and corrosion resistant.
☑️ Secure your crypto on your own terms
☑️ Don't rely on paper storage for your seed/recovery phrases
☑️ Support the Litecoin Foundation! pic.twitter.com/8DIOirSw6r
— Litecoin Foundation (@LTCFoundation) May 3, 2019
The tablet supports 12, 18 and 24- seed/recovery phrases. The open-source wallets like Jaxx and Exodus and even cryptocurrencies like Ardor implement the recovery phrase mechanism which acts similar to a private address of the respective wallets; it is used to access and use the funds through the individual wallets.
Cobo is cryptocurrency hardware and software wallet manufacturers that aim to increase the feasibility and security in owning cryptocurrencies. Cobo offers a mobile wallet, cold storage wallet, and custodial services for institutional investors.
Litecoin, on the other hand, is one of the leading cryptocurrencies currently ranked at 5th w.r.t. total market capitalization. It is trading over 150% higher since the beginning of the year. The price of Litecoin [LTC] at 17: 00 Hours UTC on 3rd May 2019 is $79.54.
Moreover, the Litecoin Foundation’s collaboration with Cobo will benefit both the brands in increasing their global presence.
Do you think the recovery phrase security devices are essential for secure ownership of cryptocurrencies? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com