BitBox02 is a hardware wallet for storing keys for Bitcoin, Litecoin, Cardano, Chainlink, Ethereum, Basic Attention Token, as well as over 1,500 tokens ERC-20 (there is a separate version with firmware only for Bitcoin). Supports microSD memory cards for backup or restore. The wallet, in addition to storage, allows connection to decentralized applications on the Ethereum blockchain (exchanges, credit protocols, NFT marketplaces, blockchain games etc.).
Wallet purchase page: https://shiftcrypto.ch/bitbox02/
The editors of cryptomais.com offer a review of the BitBox02 wallet, tips for working with it and an analysis of the main pros and cons. The device is an improved version of the BitBox01 – the previous one was discontinued in 2019.
general information
| Designation | BitBox02 |
|---|---|
| Type | Hardware wallet for cryptocurrencies |
| Manufacturer | Shift Crypto AG, Switzerland |
| Website | https://shiftcrypto.ch/ |
| Number of supported assets | 1500+ |
| Criptomoedas | Bitcoin, Litecoin, Cardano, Chainlink, Ethereum, Basic Attention Token, preço ERC-20 |
| Processor | Cortex-M4F 120 MHz |
| Connection interfaces | USB Type C |
| Dimensions | 54,5×25,4×9,6mm |
| Weight | 12 years |
| Compatible operating systems | Windows 7 e superior, macOS 10.13 e superior, Linux, Android |
| Authentication | FIDO U2F compliant |
| Show | 128 x 64 pixels, OLED branco |
| Secure chip | ATECC608B; random number generator (NIST SP 800-90A/B/C) |
| Backup | For a microSD card; seed phrase |
| Open source | Yes |
| Multisignature | Yes |
| Price | ? |
Comparison of BitBox02 with other wallets
Installation and configuration
Box contents:
- BitBox02 Hardware Wallet
- microSD card
- USB-C to USB-A Adapter
- USB-C Extension Cable
- Rubber locks
- Sticker marking
The first thing after receiving the BitBox02 is to make sure that it is has not been subject to unauthorized access. Do not use the device if the shipping packaging is torn or if there is no gray frame on one of the four sides. However, this protection is essentially unreliable, since an attacker could theoretically create a new, exactly the same package and insert a hacked wallet into it.
Download and install BitBoxApp:
- Android
- Windows (file, 69 MB)
- macOS (archive, 91 MB)
- Linux: Ubuntu/Debian, Fedora, other distributions
Once launched, you will see a screen asking you to connect the BitBox02. Insert a microSD card into the device. You will need it later to create a backup copy of your wallet. After that, connect your wallet to your computer or phone. To do this, the kit includes a USB-C to USB-A adapter, or you can use any USB-C extender. After connecting the device, tap on one of its sides to select a comfortable screen orientation.
Immediately after connecting, follow the tips of the firmware installation wizard. The application will offer to update the software to the latest version; this should be done.
Next you need to confirm the pairing code. The identity of the code will confirm that there is no third party between your computer and the wallet. Check each character carefully and then confirm the match on both.
If you are using a wallet for the first time, select the “Create a new wallet” option.
Give any name and click Continue. Confirm the name on your device. Set a password that will need to be entered later before each use of BitBox02.
Finally, you need to create a backup of your wallet. To do this, make sure you understand the importance of security, as well as today’s date. It’s important to understand that the backup is stored on a microSD card – which means it can be stolen and your funds can be accessed. Here’s why:
- Set an additional password on the backup.
- Keep the card in a safe and secure place.
- The ideal is to make several copies and save them on different sites.
BitBox02 is ready to use. The card can be removed; it is only needed for working with backups, but not for daily use.
If you wish, you can extract the seed phrase to provide additional security for your funds and the ability to restore them to another wallet. To do this, open the app and in the sidebar click on Manage Device and then Show recovery words.
How to restore an existing wallet
BitBox02 allows you to restore a wallet created on the same device or on a third-party device. The first option is possible if the old wallet was lost or broken and you purchased a new one of the same type. Of course, you should have an up-to-date backup of your data on the SD card.
- Insert the card into your wallet.
- Launch the BitBoxApp, connect the BitBox02 and confirm the pairing code as described above.
- Next, instead of the option to create a wallet, select Restore from microSD card.
- A list of backups saved on this card will appear. Select the desired file and click Restore.
- Create a password for the device, just as when creating it, confirm the date. Now you can continue to use your wallets normally.
You may want to transfer your cryptocurrency storage from another wallet to BitBox02. Then the procedure will be as follows:
- Get a BIP-39 compatible recovery phrase on another portfoliothat you are using. BitBox02 only supports Segwit accounts (crypto addresses must start with 3 or bc1).
- Launch the BitBoxApp, connect the BitBox02 and confirm the pairing code.
- Select the Restore from Recovery Word option and then the recovery phrase type – 12, 18 or 24 words.
- Enter the sentence into BitBox02, confirming each word with a check mark. Then double-check that your entry is correct.
- Set a password and confirm the date.
Now you will see your coins in BitBox02 and you will be able to use them fully.
Sending and receiving cryptocurrency
Creating a transaction using BitBox02 is done through the BitBoxApp application in the Send section.
Enter the address you want to transfer to or use the option to scan the QR code.
Enter the amount in fiat currency or cryptocurrency. Also set a commission. The higher it is, the faster the transaction will be confirmed on the blockchain. If the payment is not urgent, you can choose the average commission amount. It is not recommended to underestimate it.
After sending, the transaction will be pending for some time. However, you can now turn off your device and close the app.
Receiving cryptocurrency on BitBox02 is even easier.
Open the app and click the Receive button. You will see the first few characters of the input address. To get the full address, you need to confirm the action on the device by clicking Show and check the full address on the device.
Copy or scan the address and transfer cryptocurrency to it (or give it to someone who should do this).
Working with DeFi
BitBox02 allows you to connect to smart contracts on the Ethereum blockchain, including OpenSea Curve Finance and others.
The connection is made via the Rabby app, which works exactly the same way as Metamaskas an extension for Google Chrome.
Setting up and connecting Rabbit:
- Download and install BitBoxBridge – a program created specifically for interaction with web3 wallets.
- Install the extension in your Google Chrome browser Rabbi. Configure it, set a password. Select supported blockchains. To work with BitBox02, you can leave only Ethereum enabled.
- Connect your wallet to Rabbit. Compare the code on your computer screen and on your device display (only for the first connection). Import addresses.
You can now connect using Rabbi to decentralized applications and use hardware wallet funds to work with them.
Where to buy BitBox02
You can place an order on the official website website project, and delivery to the CPLP and Ukraine is possible, but not to the Russian Federation.
The cost is 119 euros (more than 10,300 reais at the moment). You will also need to bear the cost of delivery, the value of which depends on the region, on average up to 19 euros. Delivery takes 2 to 4 business days.
If the company does not ship to your country (such as the Russian Federation), you can use the services resellers.
The manufacturer Shift Crypto AG offers the following product types:
- BitBox02
- BitBox02 Bitcoin (only allows you to store BTC)
- Backup card – a special card to record the recovery phrase. Protected from aging.
- Steelwallet is a metal plate with protection against fire and corrosion.
- Bags for storing cards with recovery phrase.
- Set of two microSD cards.
- USB cable and adapters.
Advantages and disadvantages
Frequently asked questions
Conclusion
Just a few years ago, protecting crypto assets was a serious problem. However, hardware wallets have managed to take security to a new level. BitBox02 is a secure and easy-to-use wallet. At first glance, it seems unusual compared to more popular analogues, such as Ledger. But after just a few uses, you get used to the interface and it seems quite logical. BitBox02 uses multiple layers of security to protect your device while also providing easy backup and recovery. The wallet is touch-controlled, which is also very convenient.