Earlier only Trezor and Ledger Nano were ruling the cryptocurrency market; when it comes to cold store Bitcoin and altcoins. But now as the crypto market is evolving, many more tech giant companies and new ventures are coming with more hardware wallet options. Today I am going to introduce a new hardware wallet, SecuX V20, to you.
This uniquely designed device can store up to 500 wallet accounts at a time; which is astonishingly good thing for investors who like to invest in multiple coins including so called shit coin.
SecuX V20 hardware wallet can hold up to 500 accounts at a time, does this mean we should buy it?
No, not at all.
So here I am going to answer each and every questions you would have regarding SecuX V20 hardware wallet for example:
- Company Background
- What is in the box?
- Security and OS
- SecuX V20 supported coins
- Should you buy SecuX V20 hardware wallet?
Secux V20 Review:
- Large display size 2.8″
- Bluetooth connectivity along with USB Type-C connector
- Large storage capacity, up to 500 coins
- Unique design
- Military-grade 5+ Evaluation Assurance Level (CC EAL5+) certified Infineon Secure Element chip
- 600 mAH battery with up to 7 hours backup
- Hidden wallet option
- CryptoWonk SecuX V20 ratings: 4.2 out of 5.
- Their operating system is not open-source
- $139 price tag is a bit expensive for small investors
SecuX, as of now, has 3 hardware wallets to offer W10, W20 and its next generation V20 hardware wallet. Let’s find out whether we should buy it or not.
Founded in 2018, SecuX Technology Inc. is a Taiwan based Blockchain Security Company. As you might already know the country is technologically is very advanced, so we can assume that team behind the SecuX V20 wallet would be experienced one.
Company is a new entrant into the industry and it is striving to establish a trustworthy image like Trezor and Ledger. It is obvious that new companies have to struggle to win customers trust; and when it comes to our money we should always do thorough research.
Just like Ledger, which initially struggled too and now ruling the hardware wallet market, SecuX Technology Inc. is now started grabbing attention of cryptocurrency investors but still there is a long way to go.
What is in the box?
In the SecuX V20 wallet box, you will get;
- 1 SecuX V20 hardware wallet
- 1 black pouch
- 1 type-C USB cable for wired connectivity
- 2 recovery sheets to jot down your recovery phrase
- 1 user manual AKA start guide
You will get the wallet in very nicely packed box and quality of the box content is really very premium.
When we talk about design, company has thought out of the box. The shape of the device is dodecagon which is something we are not used to use. And while using it, I struggle to hold it, not because of the shape but we are used to use rectangular shape devices.
Frankly speaking ergonomically device is not designed to hold for long, at the same time I appreciate that the company has come up with this unique iron man’s hearth 12-gon design. But at the same time, we should keep in mind that hardware wallets are not supposed to hold for long. We just hold them to press buttons for 5-10 seconds. So in that way, it is not a big deal.
I have to mention also that on my computer table, it looks very elegant. In fact, it grabbed many’s attention.
On SecuX V20 hardware wallet, you have one physical button to turn it ON and OFF.
2.8″ touch screen enables you operate the device easily. Touch screen sensitivity is good.
For charging and wired connection, you have a USB type-C connector and cable quality is really very impressive.
Interface does not justify its design. Company has to work on this, while using the device I felt like I am using my basic old CDMA phone.
SecuX V20 security and OS
SecuX V20 hardware wallet is integrated with Infineon, famous security solutions company, manufactured EAL5+ Military-Grade Secure Element chip. This chip is only responsible for your private key security because this part keeps your private key offline all the time even when you use your hardware wallet for online transactions.
Secure elements chips’ security can be judged by this that if you use them on a compromised computer then still these chips keep your private information safe and secure.
When it comes to security, my only concern is that their operating system, I couldn’t find its name so let’s call it SecuXess, is not open source.
If we talk about Ledger and Trezor, they have made their OS open source so anyone can contribute to make their OS more secure and test against vulnerabilities or just see what is inside their hardware wallet.
But SecuX has made their operating system isolated. I researched on the internet what people need to know about this device before they buy it. And mainly there were 3 questions that must be answered and I asked the same questions to SecuX team because only they can answer them correctly to convenience their potential customers.
Question 1: Your operating system is not open source. Many others like Trezor, Ledger have made their OS open source so anyone can test its flows and security level and contribute to make it more secure. For example recently a developer hacked Trezor wallet, Trezor would have certainly work on this issue. If you too make your system open source then probably other developers can find flows that your team, not judging your team skills, may not be able to find. How would you respond to this? Many are concerned about it.
SecuX answer: Currently we are not open sourced because we are in the process of upgrading and optimizing our SDK security mechanism, and we feel that it’s in our customers’ best interests to keep it closed, even though it doesn’t pose any risks that may lead to financial loss, we want to ensure our level of security to the highest standards, and do not want to compromise at the expense of any uncertainties. Especially when the question of open source, non open source is highly debatable, there are pros and cons on each side of the spectrum, for instance Apple is entirely non open source where as Google is fully open sourced, they each have their reasons and concerns and have been very successful in defending their own priorities.
Question 2: Do you have any plan in the future to make your operating system open source to earn customers’ trust, who are willing to buy but avoiding just because of this issue?
SeucX answer: We also truly agree with the value of blockchain how it should be built upon community collaborative development, and we do welcome verification and certification from these talented developers to help us improve and provide better products and service for the community. Thus our dev teams are planning in the next phase to open up our source codes, partially if not entirely, to allow integration and partnerships with more third-party application providers, so our users can utilize their SecuX wallets to the full extent.
If you too had above questions in mind then I hope above answers would have helped you make a decision.
I personally to believe that there should be complete transparency. All major thriving tech giants have made their software open-sourced WordPress, Ledger, Trezor, name a few, SecuX should also do the same.
Now we should talk about Bluetooth connectivity. Look all next generation hardware wallets are coming with wireless connectivity options and as of now, Bluetooth connectivity is not assumed so secure.
But at the time, you should know that your hardware wallet only shares public information, your private keys remain offline all the time even when you receive or send the coins.
What I can suggest you is do not use Bluetooth connectivity in initial setup (I mean while generating recovery phrase). For transactions, you can use them without hesitation.
Is SecuX a cold wallet?
SecuX secure element chip cold stores you coins. Your private key never touches the internet and it remains offline all the time even while making transactions.
SecuX V20 supported coins
This hardware wallet has a vast range of supported coins. SecuX V20 supports 1000+ coins and tokens including ERC20 coins.
It can hold up to 500 accounts at the same time. And as the company mentioned, they will keep adding the coins to its list of SecuX V20 supported coins.
Here is a list of SecuX V20 supported coins:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Groesltcoin (GRS)
- Stellar (XLM)
- Binance (BNB)
- DigiByte (DGB)
- Dashcoin (DASH)
- Dogecoin (DOGE)
- Cardano (ADA)
- Tron (TRX)
- Tether USD (USDT)
- BNB (BNB)
- USD Coin (USDC)
- HEX (HEX)
- SHIBA INU (SHIB)
- Binance USD (BUSD)
- ChainLink Token (LINK)
- Wrapped BTC (WBTC)
- Dai Stablecoin (DAI)
- Compound USD Coin (cUSDC)
- Wrapped Filecoin (WFIL)
- OKB (OKB)
- TRON (TRX)
- Compound Dai (cDAI)
- Aave Token (AAVE)
- Compound Ether (cETH)
- Graph Token (GRT)
- Amp (AMP)
- Crypto.com Coin (CRO)
- Bitfinex LEO Token (LEO)
- Maker (MKR)
- Celsius (CEL)
- Compound (COMP)
- Wrapped UST Token (UST)
- Quant (QNT)
- BitTorrent (BTT)
- DENT (DENT)
Click to see full list of supported coins and tokens.
SecuX V20 hardware wallet can be connected via SecuXess web application, Android, iOS, Linux, and Mac. For mobile connectivity, you will be required to install official SecuX application.
Anyone with basic knowledge of computer and internet can operate this device without need of external help.
Just in case, you lost your device, you can buy a new one or use a compatible software wallet to restore your coins. Other person would not be able to misuse your device because it will be PIN protected.
Secux V20 hardware wallet comes with $139 price tag. Considering its design and build quality price is quite justified. Like other next generation cryptocurrency hardware wallets, its price a pinch high but not that much that I would say it is not a value for money product.
Using following coupon code “cryptowonk” for V20 and W20 , you can avail up to 15% discount on buying SecuX V20 hardware wallet:
Should you buy SecuX V20 hardware wallet?
I have listed each and every point that you should be aware of before buying this device. I assume now you would be able to make an easy decision.