German bank officially offers customers a personal Bitcoin cold wallet from the Austrian state printing house

VIENNAApril 29, 2022 /PRNewswire/ — Even the global COVID-19 pandemic of the past two years has not stopped the continued interest in Bitcoin. Bitcoin is increasingly becoming an investment object for many small investors. Until now, the step into the crypto world has not been easy for these small investors mainly because of the high technical requirements and also the protection of their own crypto assets, which required an advanced understanding of the technology behind it.

Buy Bitcoin and secure cold wallet storage easily via online banking

This fact changes for all customers of the German bank “Raiffeisen Volksbank Bayern Mitte”. After an extensive pilot and test phase, the German bank is now officially offering the proven Bitcoin cold wallet solution “chainlock” from the Austrian State Printing Office (OSD) to its customers as a convenient and highly secure storage for their Bitcoin. All Volksbank Raiffeisenbank Bayern Mitte customers can buy and trade Bitcoin directly through online banking. For secure storage, the bank also offers OSD’s cold wallet solution under the name “VR-BitcoinGoCard”.

Innovative cold wallet infused with security know-how

The new “VR-BitcoinGoCard” relies on maximum security and the know-how of more than 200 years of high-security document printing. “Our cold wallet takes the form of a regular credit card and is manufactured in OSD’s specially secured high-security area – the same secure area in which Austrian passports, driver’s licenses and other highly secured documents are produced,” explains OSD. Director Luke Pramli† In addition, the card relies on many security features that are also used on official ID documents such as a passport or driver’s license. In addition to holograms, optically variable picture elements (called a “DOVID”) and microprinting, each cold wallet is also protected by UV printing and hardened against physical manipulation by a special high-security film. In addition, all users are instructed to check their received cold wallet by following a simple step-by-step guide provided through the smartphone app. In this way, users can be sure that no physical manipulation of the card has taken place and that all digital values ​​stored on it are completely protected.

Maximum protection in credit card format

Production in the highly secured area takes place completely offline. “All our OSD employees are constantly subjected to security checks. No one, not even our employees, has insight into the central part of the cold wallet, the so-called “private key”, says Praml, explaining the extensive security measures with the “VR- BitcoinGoCard”, all customers of “Volksbank Raiffeisenbank Bayern Mitte” receive a maximum-security cold wallet in credit card format. The card acts like a real cold wallet without the need for electricity, updates or any particular transfer technology standard. This makes it ideal as long-term storage , especially when kept in a vault or locker.The respective Bitcoin value in FIAT currencies such as euros or dollars can be viewed at any time using a practical smartphone app.Only when the owner wants to sell his own value Bitcoins or transfer them to another wallet, they reveal their “private key” on the “VR-BitcoinGoCard” doo r scrub off the high security film. OSD’s extensive security measures ensure that only then the protection ctted “private key” becomes visible to a person for the first time.

For more information about “chainlock”, the underlying principles and the technology behind it, visit https://youniqx.com/en/chainlock-cold-offline-wallet/

Photo is available on AP Images (http://www.apimages.com)

For more information, please contact
Thomas Pascher
+43 664 88690977 | [email protected]

decide

decide

View original content: https://www.prnewswire.com/news-releases/osd—german-bank-officially-offering-customers-personal-bitcoin-cold-wallet-from-austrian-state-printing-house- 301536111.html

SOURCE OSD Austrian State Printing Office/Youniqx

Leave a Comment