BitFi in the past stated, it seems obvious now, but before #Bitfi was created everyone obsessed over how to save their private keys in a secure way. It never occurred to anyone to just delete them – solving the security problem altogether.
In response to what BitFi stated, Jared Tate in the past month expressed, the first time I heard this it took me about 0.003 seconds for me to understand this is the best path forward. This is the only way to keep your crypto 100% secure from hackers, governments & ill-intentioned fools.
Also Jared stated that it was very important to understand that BitFi does not hold any funds. You Do! Your Keys. Your Crypto, the way it should be.
One of the users acknowledged: Can’t tell you how many people struggle to understand this concept. It seems really simple. But all my friends are still asking “but where are the private keys”? You are a visionary Jared for seeing this before others.
Jared Keeps reinstating on how the best way to store it long term is on the BitFi wallet. Which also means it can exist only in your mind! Everyone else is worried about “backing up” private keys. Why not create the private key as needed from your mind for a fraction of a second.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Digibyte (DGB) supports the Bitfi hardware wallet as they claim the security is one billion times greater than SSL encryption.”
Why Digibyte (DGB) Supports DGB?
For those who do not know, BitFi, is the world’s only crypto asset wallet where the private keys are generated on demand, and never stored.
BitFi claim that nothing to store is the new standard in digital security. The BitFi hardware wallet is a device that does not store and does not have a way to store private keys. Therefore, online attacks are not possible. In cases where the device is stolen and taken apart and forensically analyzed the private keys cannot be retrieved.
If the device is lost, users will be able to order a new device and continue to use their original secret phrase or use Bitfi open source code to retrieve their private keys and access funds.
The user can keep their secret phrase to memory and then access their funds at any time, even several years later. It does not matter if device is lost or missing. It comes at a low cost with no security weakness. The interface is very easy to use just like sending an email.