The company Sikur has launched a new phone called SikurPhone that is especially designed for cryptocurrency holders. The phone comes with a built-in crypto wallet that lets you keep and track your digital tokens on your phone without having to worry about losing them in any type of cyber attack.
Ever since the crypto boom in 2017, a lot of people are interested in buying cryptocurrencies now. In order to hold cryptocurrency, you need a crypto wallet. That wallet could be one’s own or a wallet provided by a cryptocurrency exchange. However, getting a wallet on your PC can make cryptocurrency tricky for the casual investor. Therefore, a phone that lets you keep cryptocurrencies makes life easier for a lot of people.
According to Sikur’s COO Alexandre Vasconcelos, the SikurPhone will come with a customized version of Android 7.0. The phone is not for the regular Android user. As already pointed out, the phone comes with a highly customized version of Android firmware which does not even have Google Play. Thus, you will not be able to download any apps on the device unless they have been vetted by Sikur. The interface will also be more corporate-looking compared to the usual simplistic Android interface everyone is used to.
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As far as the phone’s specs go, they’re not “mind-blowing” either, it’s not a phone one would buy for any other purpose other than for holding cryptocurrency. However, with that said, the phone’s specs aren’t bad either. The SikurPhone comes with a full HD 5.5 inches screen with 4 GB of RAM, 64 GB memory and a 2800 mAh battery. It also comes with the MediaTek MT6750 processor, a 13 megapixel rear camera, and a 5-megapixel front camera.
The phone does come with decent specs, however, it’s not your everyday phone. If you’re looking for a phone for everyday use then this is not the one you’re looking for, it’s not intended to be someone’s main device at all.
According to Vasconcelos: “It’s sort of like a Ledger”. A ledger is a hardware wallet that people use to store their cryptocurrency tokens. “If you lose your phone, we can remotely wipe it for you. You can get a new one, log in, and your funds will be safe, as your private keys are stored in our cloud.”
However, there are a few drawbacks to the phone according to the given information. A ledger keeps all the cryptocurrency tokens inside the hardware, not online. There has been an increased number of online attacks that have led to millions of dollars worth cryptocurrency being stolen. Therefore, just keeping one private key on a cloud service that lets you access your crypto tokens is inviting hackers to steal your currency. Many skeptics also believe that it is not advisable to keep any cryptocurrency on a mobile phone because of the potential security risks.
However, according to Sikur, your cryptocurrency is safe on their phones. To prove this, they hired a bug bounty company called HackerOne in late 2017 to test their security. According to Sikur, the company was unsuccessful in their attempt to bypass their security. However, it’s best to do your own research about crypto wallets and keeping your tokens safe before investing in a phone wallet.
Although the SikurPhone is not made for the casual Android user, it still has a multitude of apps that aren’t related to cryptocurrency. According to Vasconcelos, their phone is a great tool for corporations and governments, which would explain the corporate-like interface of the phone. The phone is available now for pre-order at Sikur’s website for $799. The phone is expected to be delivered to everyone who pre-orders by August 2018.