Arculus is a new cryptocurrency wallet designed with the Secure Payment Verification (SPV) protocol in mind. SPV allows for a lightweight wallet that has no need to download the entire blockchain. The wallet has two-factor authentication and a sleek user interface. However, people are wary of new wallets and are only now beginning to use this one.
Short answer, yes. It's an open-source multi-coin crypto wallet which supports a ton of coins, including one of our favorites, Bitcoin. There are a ton of crypto wallets you can use, but we prefer Arculus because it’s an open source project with a lot of support, and it has a ton of functionality. What you get for all that peace of mind is something that looks like a credit card that you see on VIP members, with plenty of weight added so it’s not flimsy. The front is stainless steel with the Arculus logo prominently displayed while the back is made of more conventional plastic, this is also the side that has all the functionality for NFC to make passthrough transactions work.
It is important to note that no fees are charged on Arculus’ end, and that these fees go to miners, which are the pieces of hardware that confirm and secure the transfer of crypto. The Arculus card utilizes a secure NFC chip, which is the same technology used in Apple Pay, Google Pay, or any other tap-to-pay card. How Do I use Arculus Wallet.
The unique selling point about Arculus is that it combines the simplicity of a tap-to-transact card with the security of a cold storage wallet. To give a simple explanation, a cold storage wallet is a physical device that allows users to store their crypto completely offline. Other cold storage wallets exist on the market, but most are more cumbersome to use, and feature cables, small interface screens, and physical buttons.
Cloud-based hot wallets, on the other hand, which are the other popular mechanism for storing crypto, are always connected to the Internet. Examples of hot wallets include Metamask, Electrum, and Coinbase Wallet (arculus crypto wallet review). Although these platforms feature safeguards against intruders, they’re still online, and anything in the cloud is always theoretically vulnerable to security breaches that are ultimately beyond the control of users.
So now, you may be wondering what happens when you connect your Arculus card to your phone; does that make it any safer than storing crypto on the Internet? Here is where Arculus’s three-factor authentication system comes in. As I previously mentioned, the Arculus card is a cold storage wallet, so all of your crypto is stored on the card itself, not on your phone or in the cloud.