Security is one of the top concerns for any newcomers in world of crypto. As digital assets grow in prominence and popularity, it is more important now than ever to ensure the safety of your holdings against the increasing hacking and phishing scams.
Today wallets designed for this very purpose provide many security and convenient features. While big names like Ledger and Trezor remain industry leaders in crypto wallet manufacturing, SecuX is beginning to stake its claim with their own new wallet application.
Top Hits – SecuX Wallet W20
- Dual connectivity (Bluetooth and USB)
- 2.8-inch touchscreen
- Cross-platform compatibility
- Support all ERC-20 tokens
- CC EAL5+ certified Security Element chip
- Expandable accounts
- Long battery life
An Overview – SecuX and the W20 Wallet
SecuX is a blockchain company based in Taiwan. The company has been making some significant waves in the crypto space, and it recently launched two flagship wallet variants – the W20 and the V20. Apart from the essential functionalities, the V20 comes with a rounded design with additional premium features, while the W20 appears to be the consumer’s favorite. In this review, we’ll look into the wallet to find what it offers and how it could possibly stack up against industry behemoths like Ledger and Trezor.
Unboxing and Packaging
The SecuX packaging could actually have an upper hand against the industry giants. The wallet comes in a sturdy box that slides out from a chic matt-finished sleeve.
When you lift the top cover, the W20 and its 2.8-inch touchscreen sits neatly within the foam inserts. In the box, you would also find a starter guide, a micro USB cable, a microfiber pouch, and two recovery sheets where you can write down your 24 recovery words.
Hardware
The W20 has an interesting build made of plastic that is very lightweight. However, it could also feel slightly fragile and cheap. Not a deal breaker.
Once you power on the wallet, the 2.8-inch touchscreen lights up and you would be prompted to set up a PIN. The screen itself isn’t the best in terms of aesthetics, but its size does beat wallet options like KeepKey and other tier-2 models.
Setup and Installation
After setting up your PIN, the SecuX wallet would ask you to name your device. Not only the responsiveness of the touchscreen and the internal QWERTY keyboard provides ease of typing, the convenient and stress-free experience is also completed without the need to connect to a laptop or computer.
Once the details have been entered, you could either set your device up as a new one or recover an existing wallet. Pretty standard stuff. If it’s a new wallet, you will get a 24-word recovery phrase to save. Copy the phrase on the recovery sheets provided, then you would be prompted to confirm it on your device.
At this stage, SecuX provides a multiple choice option. This is truly one of the best features. No one wants to spend all that time typing 24 words just for confirmation, so the multiple choice feature that allows you to quickly click on the correct words is definitely a lifesaver. The wallet will then initialize the product, and store the private keys and recovery phrase in its CC EAL5+ certified Security Element chip.
Software
The SecuX W20 comes with a web-based software for both mobile and desktop devices. Note that you will need the official app if you’re an iOS user.
If you are connecting the wallet to your laptop or desktop, you can connect via either USB or Bluetooth, then navigate to the URL with your browser. Note that the web-based software works only on Chrome, Opera and Brave. The Bluetooth functionality is pretty solid, with SecuX offering the latest Bluetooth 5.0 Low Energy option.
For mobile users with smartphones and tablets, first download the official app, make sure you switch on Bluetooth for both your wallet and mobile device, then following instructions for pairing. Android users can also navigate to the URL with Chrome, Opera and Brave browsers without having to download additional app.
Account Features
The expandable account feature is the most outstanding. SecuX wallets allow you to manage and add up to 500 accounts, each can be personalized based on your preferences, all on a single device. This is unprecedented even for major brands like Ledger and Trezor.
Security
The SecuX W20 comes with an Infineon SLE Solid Flash CC EAL5+ Secure Element Chip, which stores user created PINs and private keys.
According to the manufacturers, this security infrastructure is of a higher standard than what you would get even with the most advanced banking systems. The wallet provides a zero-probability leakage system for your transactions with its high-level security chip.
Supported Currencies
SecuX W20 supports all major cryptocurrencies, including Bitcoin, Etherum, Ripple, Litecoin, Bitcoin Cash, DASH, BNB, DOGE, XLM, and more. You also get support for all native ERC-20 tokens available such as USDT, USDC, LINK, UNI, VEN, and so on. Meanwhile, SecuX team said their wallets are going to support TRX and all TRC-20 tokens in a few weeks, follows by ADA and DOT in Q2, 2021.
In partnership with Coinify, the wallet allows you to purchase cryptocurrencies directly through its interface too.
Battery
Your wallet comes with a rechargeable Li-Polymer battery measuring 600mAh, which charges in about two hours, lasts for up to 7 hours during normal use, and more than 6 months in storage mode.
Summary
To be fair, the SecuX wallet definitely packs a big punch. It has its drawbacks and areas for improvement, but it can certainly hold its own against industry giants for sure. With premium software and security features, you get an optimal bang for your buck.
Merkle Reader Code:
SecuX V20, W20: “merkle” Use the code to get 15% off at the time of checkout
SecuX W10: “merklew10” User the code to get 10% off at the time of checkout
After updating its all-time high once again at $58,350, BTC/USD has started a deep correction. A lot of traders, who bought the asset at the top, are now at a disadvantage because the slump covered over $13,000. However, investors recommend to buy at the time of significant declines, that’s why the current correction may be considered as another attractive chance to enter the cryptocurrency market.
In the daily chart, the cryptocurrency has tested the fast Moving Average. Earlier, during a strong bearish correction when the price fell to $28,620, there was also a tight test of the area between Moving Averages, which was followed by a further uptrend. An important support area is between $44,800 and $42,200, where we can see the rising channel’s downside border. As a result, if the price starts moving towards this area again, it may rebound and resume growing. The closest upside target may be at $65,000.
The catalyst for the current movement of the leading cryptoasset was Elon Musk’s words about the overestimated price of both Bitcoin and Ethereum. Tesla shares also dropped pretty much and reached $618, which was the biggest plunge since September 2020. Investors started blaming the company for this slump due to its major Bitcoin purchases earlier.
Some analysts also noticed an adversarial attitude towards cryptocurrencies during Janet Yellen’s speech, which may have put significant pressure on Bitcoin and the entire cryptocurrency market. Treasury Secretary’s rhetoric was in no way different from the one of heads of other central banks as all of them are also very worried about the high volatility of BTC, as well as the fact that such assets are often used for money laundering and tax avoidance.
At the same time, former crypto-bears now acknowledge that the cryptocurrencies may skyrocket again and don’t’ want to open short positions. It was said by Bill Gate), whose current stance on Bitcoin as an investment tool is rather neutral. However, back in 2018, the famous entrepreneur was quite vocal about short in BTC. He also warned traders against blind following Elon Musk’s recommendations, saying that Musk had much more money than an average investor in the market.
Michael Burry has similar views on the growth of the entire cryptocurrency market in the short-term, but he also is not ready to open short positions even despite the risks of the government’s pressure upon these assets.
As we can see in the H4 chart, recently it was the first time in February when the RSI indicator fell below 30. Earlier, such declines showed the completion of descending corrections and further rising impulses. However, we shouldn’t exclude one more descending movement towards $44,800, which may be followed by a rebound and a further uptrend. In this case, there will be potential for the formation of a Double Bottom reversal pattern, while the test of the rising channel’s downside border will be another signal in favor of new growth. Still, the bearish correction may yet continue if the asset breaks the rising channel’s downside border and fixes below $40,000. In this case, the next downside target may be at $29,000.