Where can you safely store your cryptocurrencies?
Maybe in an old smartphone that you no longer use. Thanks to Parity Signer, an app created by Parity Technologies, it is possible to transform an old mobile phone no longer in use into a secure hardware wallet.
Although still in beta version, the app is already available for both iOS and Android and allows safely generating, storing and signing transactions with your private key, on devices that do not need to be connected to the Internet.
Parity Signer allows you to select multiple networks, including Ethereum, Ethereum Classic and Kovan, and includes security notifications that let you know if the device is offline or not.
Parity Signer is specifically designed to work on dedicated offline devices, which should never be connected to the Internet once the app is installed. For this reason, it is advisable to follow these tips:
- Restore the device’s factory settings before installing the app;
- Enable encryption of the entire memory of the device, which may not be active on older Android devices;
- Once the app is installed, enable airplane mode and turn off wifi, Bluetooth and any Internet connection features on the device;
- Charge the phone’s battery only on sockets that are not connected to the Internet, nor on public USB chargers.
This could be one of the safest ways to store Ethereum and the ERC20 tokens, although it is recommended to use the app with caution, as the application has not yet been fully verified.
Parity Signer is open source and any developer can help to find bugs using the Bug Bounty program.
