How Does The BitLox Wallet Work
BitLox began in 2015, as a Hong Kong-based start-up called BitLox Limited. It is essentially an open-source hardware wallet with security features. It allows users to store their cryptocurrency private keys in a safe offline environment away from hackers.
The BitLox wallet allows its users to choose from various types of wallets based on different levels of security, such as BitLox Advanced, BitLox Ultimate, and BitLox Extreme Privacy. At present, it is just limited to a Bitcoin wallet, but it may support Ethereum and other altcoins soon.
Connecting Your BitLox Wallet To ZenLedger For Your Crypto Tax Forms
- To import your BitLox transactions into ZenLedger for your crypto tax forms, all we need is your public wallet address. Paste your wallet address into the BitLox wallet address field in ZenLedger.
- Select the proper coin from the dropdown list. Select if the wallet is based in the USA or not. Then hit add a coin.
How To Use BitLox Wallet?
Step 1: Turn on the wallet
Hold the power button for 2 seconds to boot the hardware wallet. It is recommended to charge the wallet via USB before starting the setup.
Step 2: Choose Your Language
You can choose from up to 10 languages that BitLox supports.
Step 3: Create A Password
The BitLox wallet provides anti-device tampering recognition phrases as a part of its high-level security features. Due to this, users will have to enter a specific PIN for each transaction they make. There are three choices of passwords that users can select from.
- Set a PIN comprising up to 60 characters
- An 18 or 24-word mnemonic phrase as a backup
- Set an alphanumeric PIN comprising up to 60 characters
- An 18-word mnemonic phrase
- Set a 4 to 8 digit PIN
- A 12-word mnemonic phrase
Step 4: Formatting Your Device
The device will auto-format the storage to prepare itself for use. Once the process is complete, you can proceed to set up your wallet in the next step.
Step 5: Wallet Setup
Enter your initial PIN based on the level you chose. Alternatively, you can skip this process if you do not want to auto-create a new wallet. You can do so by pressing the X button until it is canceled. But you have chosen to create a wallet, you will have to set a new PIN for your BitLox hardware wallet.
Step 6: Mnemonic Phrase For Backup
Now the screen will display a mnemonic phrase for backup. It is advised to write this phrase down and keep it securely.
Step 7: Connect Mobile App
After completion of all the above steps, you have to connect the hardware wallet with your mobile app. Do this by downloading the app from the official BitLox website and then scan the QR code on the device.
How Does The Bitlox Wallet Work?
BitLox is a hardware wallet that allows you to store your Bitcoin away from the hands of malicious hackers. The BitLox wallet gives its users total control of their private keys that store their coins offline. As a result, you can send and receive Bitcoin without the fear of having your private keys exposed on the internet.
- Choose wallet from the list of wallet addresses provided
- Add hidden wallet by manually entering wallet number and PIN
- Select the 'send' option
- Enter recipient's address
- Adjust the transaction fees
- On your mobile app click 'Send' and tap on 'Done' once the transaction is complete
- Click 'Receive' to view the QR code and select 'Share' to send your code to the sender
- Create a new address in case it is necessary
The Bottom Line: Why Choose BitLox Wallet?
Here's a list of all the advantages that you'll receive if you get your hands on the BitLox wallet:
- Top-notch security features including 2-factor authentication, 12, 18, and 24-word backup phrases, PINs, and multi-signature
- Hierarchical deterministic
- Support of wallet-to-wallet transactions using QR codes
- Titanium casing and hard metal case with a shockproof body that makes it indestructible
- E-paper display for displaying addresses
- Alphanumeric keypad
- Create hidden wallets
- Multi-language support
- Compatible on multiple platforms (iOS and Android apps)
- No hidden transaction fees
- Offers anonymity, supports Tor browser
- USB cable support for charging
If you're looking for a hardware wallet with military-grade security and the support of a user-friendly interface, look no further. The BitLox wallet is among the best hardware wallets available in the market.