When it comes time to securely store your crypto holdings, a cold storage hardware wallet is the best solution. Hardware wallets are known to keep your funds offline and away from hackers.
There are multiple cryptos and NFT hardware wallets available out there. Among them, the Arculus crypto cold storage wallet is the top one.
However, unlike many other brands, Arculus is a fairly new brand and product. You might be wondering how it works and why it is considered to be a leading contender in the world of digital asset storage.
To answer all of this, I am going to share an Arculus wallet review with you. So here we go:
What is Arculus Cold Storage Wallet?
Arculus is one of the simplest and most secure cold storage solutions for your crypto holdings out there. It is developed by CompoSecure, which is one of the top companies making metal cards for major banks, and now they have entered into the crypto space as well.
Arculus is a web3-enabled cold storage wallet that makes it super easy for you to store and manage your crypto and NFTs.
With the Arculus crypto cold storage wallet solution, you get full control over your private keys.
Also, unlike other crypto hardware wallets, Arculus functions in a different way. This cold storage solution is a combination of two separate products:
- Hardware: The physical Arculus Key™ Card.
- Software: The Arculus Wallet™ App for iOS and Android smartphones.
Through the app, you can view your crypto portfolio, NFT collections, and more. But to make transactions, you will need the Arculus Key Card. I have explained it further in the points below.
How Does the Arculus Wallet Work?
Unlike other hardware wallets that use Bluetooth or wired connections to function, the Arculus wallet communicates with the card via NFC.
The secure NFC communication makes your crypto nearly impossible to hack. To tighten the security further, the Arculus Key Card uses the best-in-class CC EAL6+ Secure Element to encrypt and store your keys.
Even if you lose your Arculus card, no one will be able to steal funds from your wallet, as Arculus gives you the option to use your unique 12-word recovery phrase to recover your digital assets.
To manage your crypto, you have to tap your Arculus Key Card on your smartphone, and you are good to go. The key card works seamlessly with both iOS and Android smartphones. Just ensure that your phone has NFC, which most smartphones do.
Every time you want to make a transaction, you need to tap the card on your phone. NFC operates over a distance of 4 cm or less, which contrasts with a Bluetooth connection which can operate over a range of 10 meters. Hence, it will be nearly impossible for hackers to steal from your wallet.
What is the Arculus Wallet App?
Along with your Arculus Key Card, you need to use the Arculus Wallet App, too. The combination of these two will make your experience smoother while interacting with crypto.
The mobile app protects your digital assets with a 3-factor authentication using a biometric marker, a PIN, and the Arculus Key Card.
The Arculus Wallet App is responsible for allowing access to your cryptocurrencies and NFTs. It is super easy to use and gets paired up with the metal card, which has your private keys.
The whole thing is divided into two components that work together. On one side, there is the physical Arculus Key Card, and on the other side, there is the Arculus Wallet App.
To access or manage your funds, you will need to pass the biometric lock, enter a PIN on the app and then tap your card on the back of your phone, and you are good to go.
Now the question is, apart from its functionality, what features does this Arculus Wallet App have? Well, here is a quick look:
- You can buy crypto in USD and EUR.
- It lets you swap or exchange crypto for another crypto.
- You can send or receive crypto.
- It lets you view your NFTs in the NFT gallery.
- You can send or receive NFTs from all the major NFT marketplaces, such as OpenSea, Rarible and more.
- You can connect to DeFi apps using WalletConnect.
- It lets you access blockchain apps safely and securely
Additionally, it supports multiple cryptocurrencies, and you can view, store, send or receive Ethereum Blockchain NFTs with ERC721 or ERC1155 contracts.
How Much Does an Arculus Key Card Cost?
Unlike most hardware wallets, Arculus does not have multiple models to choose from. But a single product is priced at $99 USD.
I do find the pricing to be a little expensive. As it is only a metal card with an NFC chip that doesn’t consist of a screen or other features. Plus, you will find hardware wallets cheaper than this.
But yes, Arculus is a different product from all the other hardware wallets, since it is a combined product of a hardware wallet and a mobile app.
How Do You Set Up an Arculus Cold Storage Wallet?
- First, download the Arculus Wallet App from Apple App Store or Google Play Store.
- Next, launch the app and place your Arculus Key Card on a flat surface with the back facing up. Then place your phone over your card.
- From the app, select “Create a New Wallet” and leave your card and phone aligned until it shows setup is complete. This may take up to one or two minutes.
- Next, you have to enter a 6-digit PIN for the 3-factor authentication protocol. After confirming the PIN, close out the PIN process by holding your Arculus Key Card on the back of your phone.
- Now you will see a 12-word phrase recovery code in the app. Make sure to write down the code as shown and keep it somewhere safe. In case you lose your private keys, the recovery phase is required when recovering the funds.
- On the next screen, you will need to re-enter the 12-word phrase to create your wallet, and you are all set to use Arculus.
What makes Arculus Cold Storage Wallet Unique?
The basic reason, of course, is how Arculus made it easy for users to manage their crypto. Secondly, it offers top-notch security, which is nearly impossible for hackers to break into and steal funds from the wallet.
It is also one of the few cold storage solutions that use the 3-factor authentication system to enhance overall security. So, even if you lose both your phone and the card, your funds will still be safe and secure, as it will require your biometric mark to unlock the funds.
Another reason is that it uses a physical card to secure your crypto. It communicates with the wallet app using NFC, and it does not use cables, Bluetooth connections or browser extensions. There is no need to charge the card.
Lastly, Arculus is a Web3-enabled cold storage wallet. It has all the features that any crypto investor or HODLer would need these days. It makes interacting with NFTs and DeFi apps super easy and straightforward.
Should you buy the Arculus Key Card?
Without any doubt, the Arculus Key Card is one of the most innovative products out there. It makes using hardware wallets super easy and convenient.
You get a metal card that you can easily keep in your wallet and carry around.
It is pretty much like an ATM card in the sense that it comes with NFC support and works with your smartphone.
With the wallet, you get support for multiple cryptocurrencies and NFTs. Plus, its wallet app has all the features that you need to manage and transact with your crypto.
So yes, if you are looking for a convenient way to manage and store crypto, Arculus is surely a great product for you.
- Supports 3-Factor Authentication.
- Supports NFT and DeFi integrations.
- Easy to use mobile app.
- Zero risk of hardware failure.
- Supports crypto and NFTs.
- It is a bit pricey.
- What if you lose your Arculus card?
Even if you lose your Arculus card, your funds are still completely safe and secure. As long as you have your 12-word recovery phrase with you, you can recover your funds.
However, you will need to purchase a new Arculus Key Card, and while setting up your wallet, select the option to “recover” your wallet. Then enter the 12-phrase code, and you will be able to access your funds.
- What are Arculus crypto wallet fees?
Arculus does not charge you any additional fees for sending or receiving crypto or NFTs. However, just like any other crypto wallet, you are subjected to the Network fee.
So whatever charges you might encounter while sending or receiving crypto are charged by the blockchain network and not the wallet.
- How do I buy Bitcoin on Arculus?
From the Arculus Wallet App, you need to go to the Swap option located at the bottom. Next, in the first field, select your local currency, such as USD or EUR. Also, in the second field, you need to select Bitcoin or any other crypto displayed and follow the on-screen steps to complete the transaction.
However, you must know the fact that Arculus is not an exchange. Instead, it has partnered up with third-party services to offer crypto-swapping features. So you might need to create additional accounts and complete KYC processes from these third parties.
Arculus Cold Storage Wallet is definitely a great solution for all the crypto enthusiasts out there. It uses 3-factor authentication and lets you interact with crypto, NFT, DeFi apps (Dapps) and more.
Plus, it has many other cool features. Also, it comes with an easy-to-use interface and gives you a secure environment for all your crypto holdings.
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