PRESS RELEASE: 4 million bitcoins lost! Dutch Start-up has the solution
Amsterdam October 15, 2018
At the moment almost 4 million bitcoins have been lost.1 This is about 23% of the circulating bitcoins. The Dutch start-up CRYPTOTAG has found a premium solution for this problem. We invented a virtually indestructible backup system of titanium. The CRYPTOTAG is compatible with nearly all crypto-wallets.2
Cryptocurrency is stored in a digital wallet. This wallet generates a unique key (private key). When you lose this key, you can no longer access your cryptocurrency and there is no party that can help you to restore it.
Cryptocurrency can be stored in various ways. The most common storage methods are:
On an exchange
On a PC (software wallet)
On a hardware wallet
One of the safest ways of storage is the hardware wallet. These are physical wallets that can be connected to a PC or laptop via a USB input. They isolate the private key and are resistant to malware and viruses. This is because they are not connected to the internet and do not have a CPU.
Risks of a hardware wallet;
Destruction by water or fire or other causes
Loss of your wallet
Failing to remember the PIN Code
After a firmware update, the wallet can be reset to factory settings
To restore a hardware wallet you need 12 to 24 backup words. Most of the time, these words are written down on a piece of paper or stored online. This is, in general, a very bad idea, as these words can easily be stolen, hacked or get lost. The CRYPTOTAG creates a virtually indestructible back-up, as the 12 to 24 words are stored on titanium.
How does the CRYPTOTAG work?
CRYPTOTAG is a virtually indestructible backup system that makes it possible to store the backup words offline in titanium, which is the metal of the gods.2 The backup words must be stamped in titanium using the components that are included in the package.
In the past sixteen months, experiments have been done with different engraving methods and different metals. In our opinion, we have found the best way.4 We call it: Hammertime! Our patented method makes it very easy to store your backup information in titanium.
We have been influenced by goldsmiths, metalworkers, the aviation industry and ancient engraving techniques. These influences are visible in the included components like the hammer, punching letters, the anvil and the use of titanium. The components are perfectly matched, so that the system is easy to use.
Who are we?
We are a Dutch startup from Amsterdam, with a passion for blockchain and cryptocurrency. We believe that cryptocurrency will positively influence the world around us. There are some challenges such as keeping your digital assets safe. That is why we want to contribute to t the community in the form of CRYPTOPTAG. Note for editors, not for publication: For more information about CRYPTOTAG Adrijan Scekic Tel: +316 10 50 11 11 firstname.lastname@example.org://www.cryptotag.io