The number of people owning cryptocurrencies is increasing, and so is their demand for higher protection and safe storage of their assets.

Supply and demand

In 2017, the hardware wallet market was USD 95 million strong, and since the rise of trading with cryptocurrencies earlier this year, much more responsible handling of the assets has become a standard, especially their storage in cold wallets offline. By some estimates, the market of hardware wallets could reach up to USD 300 million within five years.

Hardware wallets provide a safe way of storing private keys to the owner’s crypto assets. These keys are stored in an encrypted device offline, to prevent their exposure to online hacks.

The demand for cold storage is increasing, as well as the competition to cater it, making companies upgrade their products with new features, support of new coins and tokens, or by improving the underlying tech.

USB or NFC

The most popular type of hardware wallet is still the USB-connected type. It has almost become a standard for cold wallets, yet the USB connectivity does not provide an optimal experience for the user. Due to its connection to a computer via a cable, its usability and mobility are quite limited.

NFC (near-field communication) technology, however, enables flexible use of cryptocurrency. It provides not only means of storage but also — or more importantly — usage of crypto assets in everyday purchases. Through pairing with a mobile app, cryptocurrency turns into an everyday way of payment.

Is it safe?

Sugi Card is employing bank-grade security features and complies with the strictest EU security regulations. It is virus-proof and malware-proof, and stores the user’s private keys offline. The NFC security chip of the Sugi Card is PIN-protected, for additional safety of the stored crypto assets. Pairing the Sugi Card with the Sugi mobile app you can set limits to transactions, and to execute them with a PIN and a tap to your phone.

Even you lose or get your Sugi stolen, you can be sure your assets are kept safe. For more about the safety features that the Sugi Card provides, check here.

Sugi Mobile App

Many hardware wallets on the market are designed for desktop use, but Sugi Card works through a mobile app, to improve the user experience. In the Sugi App, you can check your balance and past transactions, so you always know what is happening to your crypto assets.

The Sugi App also enables peer-to-peer crypto transactions, and you can find the receiver in your address book or by their wallet address. Apart from using Sugi Card on the POS terminals, the Sugi App will enable online payments through a QR code or a link.

Coins and More

Currently, the Sugi Card provides the storage for your BTC, ETH, BCH, LTC, XRP, and selected ERC-20 tokens. Sugi will support additional cryptocurrencies and fiat currencies in the next phase, so you can make a transition from crypto to fiat even more straightforward.

And, unlike other wallets, you can customize your own Sugi by adding your name of choice and make it more personal.

Comparison

So, how does Sugi stand out from the crowd? Here is a thorough comparison of Sofitto’s Sugi and other major hardware wallets on the market: