The BitBox02 increasingly becoming one of the most trusted hardware wallets in the market, with a Bitcoin-only version and a multi-token edition, the BitBox02 is made in Switzerland, has open-source code, and an intuitive interface.
Are you wondering whether the BitBox02 is worth it? Keep reading as we will answer this question and more in our BitBox02 Review!
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Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
Background And History
To start off our BitBox02 review, we've looked into the company behind the creation of the BitBox2.
Shift Crypto AG, a privately held company based in Zurich, Switzerland, is dedicated to shaping a future where bitcoin and other cryptocurrencies become a global medium of exchange and store of value. With a team of international specialists in engineering, cryptosecurity, and Bitcoin core development.
With a strong commitment to transparency and self-reliance, Shift Crypto AG aims to minimize the need for trust in any entity, including themselves. They prioritize authenticity, minimalism, and innovative thinking, constantly pushing the boundaries of what is possible in the cryptocurrency industry. Their mission is to equip and empower the community, recognizing that everyone deserves the utmost respect in this rapidly evolving landscape.
Former co-founder and advisor Jonas Schnelli emphasizes the company's dedication to building bridges between the technology and society. By offering unique hardware and software products, Shift Crypto AG enables individuals to embrace and benefit from the potential of cryptocurrencies.
Shift Crypto AG is registered as a commercial entity in the Canton of Zurich, Switzerland, under the trade name Shift Crypto AG with the registration number CH-498.818.196. They are also registered for VAT in Switzerland (CHE-498.818.196-MWST) and Germany (DE342864157). The company adheres to various regulations and holds registrations such as the German WEEE-Reg.-Nr. DE 63016150.
Tech Specifications and What's In The Box
The BitBox02 comes with everything you need to embark on your cryptocurrency journey. Inside the box, you'll find the BitBox02 hardware wallet, a microSD card, a USB-C extension cable, a USB-A to USB-C adapter, rubber pulls for secure handling, and stickers to personalize your device.
In terms of technical specifications, the BitBox02 offers USB-C connectivity and is compatible with Windows 7 and later, macOS 10.13 and later, Linux, and Android. It features capacitive touch sensors for easy input, and its microcontroller, the ATSAMD51J20A, operates at 120 Mhz with a 32-bit Cortex-M4F architecture. The device incorporates a true random number generator in both the microcontroller and the ATECC608B secure chip, ensuring the highest level of security. The BitBox02 boasts a 128 x 64 px white OLED display and is made of durable polycarbonate material. It has a compact size of 54.5 x 25.4 x 9.6 mm, including the USB-C plug, and weighs only 12g.
Privacy and Security
During our BitBox02 review, we were pleased to realize that BitBox hardware wallets have a rich history of continuous improvement and dedication to security. The BitBox02, the culmination of their efforts, stands as a testament to their commitment to protecting your digital assets.
To ensure robust security, the BitBox02 employs a dual chip security architecture. This design incorporates a microcontroller chip and a separate secure chip, the ATECC608B.
The seed phrase, which is stored on the microcontroller, requires three separate secrets for access. This multi-factor authentication approach significantly reduces the risk of unauthorized access to your funds. Furthermore, BitBox02 embraces an open-source philosophy, allowing for complete transparency and empowering users to verify the firmware, BitBoxApp, and even examine the hardware design.
Physical protection is also a top priority for the BitBox02. The device features a secure display, enabling you to verify transactions and receive addresses directly on the hardware wallet itself. By relying on the device's screen and touch confirmation, the BitBox02 minimizes the need to trust potentially compromised computers.
The BitBox02 undergoes an epoxy potting process, where a specialized solvent-resistant epoxy is applied to encapsulate the microcontroller and secure chip. This encapsulation ensures that any attempt to access the chips by opening the casing will result in their destruction, making it evident if the device has been tampered with.
In terms of backup options, the BitBox02 offers convenient and secure solutions. It enables instant backup to a microSD card, eliminating the risk of inaccurately transcribing seed words. Additionally, you can easily verify the backup at any time, encouraging regular checks to ensure the integrity of your backup. If desired, you can also view and write down the 24 recovery words after re-entering your device password.
BitBox02 places a strong emphasis on security audits and bug bounty programs. The firmware has undergone audits by Census Labs, accompanied by consulting from multiple third-party security firms. To further strengthen their security measures, BitBox02 welcomes independent researchers to participate in their bug bounty program, allowing for responsible disclosure of any discovered vulnerabilities.
In terms of privacy, the BitBox02 takes measures to protect your sensitive information. All USB communication between the BitBox02 and your computer is encrypted using the noise protocol, ensuring that any potential malware on the host computer cannot decipher the communication. Moreover, when using the BitBox02 and BitBoxApp for transactions, no personally identifiable data or transaction information is stored on their servers. Additionally, an option is provided to connect to your Bitcoin full node, allowing you to maintain privacy regarding your financial history.
Optional features, such as the ability to create a wallet with your entropy or verifying the firmware hash before boot, provide additional customization and verification options.
In defining their threat model, BitBox02 has strived to reduce the attack surface and protect against a wide range of potential threats. They have published a threat model document that outlines the specific risks they have considered and addressed in their design.
Design and Usability
The BitBox02 hardware wallet features a minimalist and discreet design, offering a sleek and unobtrusive way to store and manage your cryptocurrencies. With its compact form factor, it is easy to carry and handle.
The device incorporates invisible touch sensors, allowing users to interact seamlessly with the BitBox02. The capacitive touch sensors enable intuitive navigation and selection, with a simple tap to navigate and select options, slide to verify addresses, and hold to prevent accidental transactions.
Featuring a large OLED display with a resolution of 128 x 64 pixels, the BitBox02 allows users to verify transaction details directly on the device before signing, enhancing security and reducing the risk of erroneous transactions.
The BitBox02 is designed to be mobile-ready, supporting direct plug-in to Android devices using USB-C. For compatibility with different devices, the package includes an optional USB-C to USB-A adapter and cable. However, it's important to note that the BitBoxApp is not currently available on iOS.
The BitBoxApp serves as the comprehensive solution for securely managing your coins. With this companion app, users can buy cryptocurrencies directly within the app and have them sent directly to their BitBox02 hardware wallet, maintaining full control over their funds.
Simplicity is a key principle in the BitBoxApp's design. It aims to keep the user experience straightforward, ensuring that users can easily navigate and manage their coins without unnecessary complexity.
Language support is another feature, with options available in multiple languages on the app.
The BitBoxApp offers features such as multiple accounts, an in-app guide for comprehensive support, compatibility with various wallet applications like Electrum, Specter, Sparrow, and MyEtherWallet, transaction notes for organizing your records, unified accounts for simplified address usage, and the ability to connect to your full node for enhanced privacy and control over personal information. Tor support is also available for those seeking additional privacy measures. Coin control allows users to select which coins they want to spend, providing tighter control over the information revealed on the blockchain.
The BitBox02 Bitcoin-only version, obviously only supports Bitocin, while the multi-edition currently provides support for Bitcoin (BTC), Litecoin (LTC), Cardano (ADA), Ethereum (ETH), and ERC20 tokens.
It's important to keep in mind that it is the team's aim to keep expanding the number of supported coins and tokens regularly. Therefore, if you'd like to check out the updated list of supported assets, follow the link below.
BitBox02 Pros & Cons
- Located and produced in Switzerland
- Strong security features
- Entirely open-source and auditable
- Bitcoin-only and Multi-coin versions available
- Easy to use
- Few coins supported
- No app available for IOS devices
BitBox02 Review: Verdict
After our BitBox02 review, we've come to the conclusion that this is definitely one of our favorite devices on the market, as it brings together two beacons of privacy, freedom, and transparency (Bitcoin + Switzerland) while keeping everything open-source and user-friendly.
With the company located in Switzerland, fully open-source code, and versions available for both Bitcoin-only users and multi-coin users, the BitBox02 stands apart from other Bitcoin-only options such as the Coldcard for its ease-of-use and convenience, without compromising on security.
The device has extremely high-standard security features, an easy-to-use interface, and a convenient app that allows users to manage their tokens quickly and effortlessly.
Unfortunately, the mobile app isn't available for IOS devices, which can be a drawback if you own an iPhone.
Another possible drawback is the fact that the BitBox02 multi-coin supports a limited number of tokens when compared to other options in the market.
Nonetheless, the BitBox02 stands as our favorite option for anyone looking for a Bitcoin-only hardware wallet, and we're confident that an iOS version of the app will be developed sooner than later.
The BitBox02 stands firm on its foundations of privacy, freedom, and transparency, being appropriately based in Switzerland, having a bitcoin-only version, and keeping everything open-source without compromising on its intuitive user interface.
If you liked our BitBox02 review and want to get one for yourself, follow the link below!