Verso Cards to secure your Bitcoin
Cryptocurrency is not a new term if you have been noticing the news lately. The digital currency incorporates the principles of cryptography for a decentralized medium of exchange. The main difference between fiat money and cryptocurrency is that the latter is intangible, not something that you can hold in your hand, with no customer support or anyone to go to when something goes wrong.
Bitcoin’s intangible and unknown nature, is a barrier and deters mass adoption. A Swiss-based company, Verso Solutions, provides a solution for the security issue of Bitcoin. Verso has released a physical cold storage wallet by merging the idea of paper wallets with smartphone apps, creating the Verso cards.
Verso Cards are credit card-sized wallets for Bitcoins, which you can carry around with utmost confidence, having full control of your money. Verso Cards are double sided, with the public side revealing your address for receiving funds, and the private side holding a strongly encrypted version of your private key. In order to use funds, one need to have both your Verso Card and your password which is created during purchase. Each password and private key is encrypted using military grade algorithm. “The private key is only known by the user and is under no circumstance communicated to any server. It is generated on the client side at the time of purchase using multiple sources of entropy, and is immediately encrypted with the user password using military-grade security.”
In addition to Verso Cards, users can access their funds from their smartphones using the company’s mobile application, Verso Wallet, which is a cross-platform mobile Bitcoin wallet, available on iOS, Android and soon Windows Phone devices. The wallet application provides all management features of your Verso Card, from checking balance, monitoring transactions, preferred currency and sending Bitcoin. Scan the private side of your Verso Card, enter your password and you are in your wallet.
Verso is currently shipping the Verso Silver Card worldwide with free shipping. Each card costs $16.99 or 28.73mBTC (0.02873 BTC), which is extremely low cost to keeping your Bitcoins safe. Verso Gold will soon be released, adding an additional layer of security with authentication to prevent brute-force attack. As a Verco Gold Card holder, the company stores fragments of your Verso Gold in multiple Swiss bank vaults, so you can request for a digital copy of your Verso Gold in case of loss.