Cardware Wallet, a South African cryptocurrency security specialist, has launched the country’s first domestically designed and manufactured hardware wallet.
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Designed for self-custody of digital assets like Bitcoin and Ethereum, Cardware Wallet offers enhanced security by storing private keys on the device. Co-founder Greg van der Spuy noted the lack of affordable, secure hardware wallets in the African market, prompting the development of Cardware Wallet.
Priced at US$77 (R1 350), Cardware Wallet is significantly more affordable than competitors. The device features a USB-C port with data transfer prevention and a CC EAL6+-certified chip for secure private key generation and storage.
Cardware Wallet prioritizes transparency. Its open-source design allows users to verify the security of its software, and its clear casing reveals internal components. The wallet also includes a metal scratch card for fire and water-resistant paper backups.
Cardware Wallet is available in two versions: one for Bitcoin and another supporting Bitcoin and Ethereum Virtual Machine-based assets. Users connect the wallet to their preferred desktop or mobile interface to sign transactions.
Hardware wallets like Cardware Wallet offer superior security compared to software wallets, which are vulnerable to malware. Custodial wallets, provided by crypto exchange platforms, carry risks associated with third-party integrity and the possibility of hacks.
Cardware Wallet’s white-label option allows crypto asset platforms to offer branded versions of the wallet to their customers. Van der Spuy expects the device’s price to decrease to $39 with increased production.
By manufacturing Cardware Wallet in South Africa, the company aims to ensure component security and suitability for the local market.
