According to YOUNIQX, Chainlock is a “100% offline” cold wallet, meaning it is inaccessible remotely over an internet connection.
Chainlock allows users to store their Bitcoin securely. The wallet doesn’t currently support other cryptocurrencies.
Users can access their funds via an app. However, YOUNIQX insists that the wallet is safe from unauthorised access over both WiFi and NFC (near-field communication). Likewise, it also claims to offer protection against the CryptoLocker ransomware, which infects computer systems and their connected devices, before encrypting files and demanding payment in order to regain access.
The Chainlock is a plastic, credit card-sized device that can be carried with its owner to ensure that the cryptocurrency inside remains safe and secure. Likewise, it is also both water and heat resistant, so is unlikely to be lost to the elements.
Making use of the Austrian State Printing House’s expertise, the card has a number of security features, including a security seal to ensure that the private key cannot be secretly read. It also contains holographic elements among other features designed to protect against forgery.