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Arculus Wallet Review 2024: Price, Pros & Cons
Swen Keller
- URL: https://getarculus.com
- Software Compatible: Yes (Arculus Wallet app)
- Price: $99
- Staking Rewards: No
- Platform App: Mobile
- NFTs Storage: Yes
- No. of Assets Supported: 60+
- Type of Wallet: Hardware wallet/Hybrid wallet
- Promo Code: PRIVATE20 for a 20% off
Arculus Wallet Review: Our Opinion
The Arculus Wallet is a unique crypto hardware wallet that offers the Arculus key card, an innovative method for securing your crypto private keys.
It also provides a compromise between hardware wallets and hot wallets as the Arculus Wallet supports a proprietary app plus third-party integrations that allows users to manage their crypto assets seamlessly.
In general, the Arculus Wallet can be tagged as a next-gen crypto wallet.
An Overview of Arculus
The Arculus Wallet was developed by CompoSecure to be a revolutionary new cold storage hardware wallet.
It was named after the Roman god of safes and strongboxes as its purpose is to safeguard your digital assets and personal data.
The brand behind the Arculus Wallet, CompoSecure is a Fintech company with more than 20 years of experience creating innovative secure payment solutions globally.
CompoSecure manufactures over 10 million metal cards in New Jersey for major banks across the world.
The Arculus Wallet, as with its other products, was manufactured in a card form to give users a familiar-looking cold storage crypto wallet to secure their private keys.
Alongside the Arculus key card, CompoSecure also developed the Arculus Wallet app as its companion to allow users to solely manage their digital assets.
The Arculus Wallet is also a Web3 cold storage wallet that supports NFT storage and management via the Arculus Wallet app.
Pros
- Supports NFTs
- Portable design
- Third-party integrations
- Industry average price
Cons
- Limited cryptocurrencies available
- No staking rewards
Arculus Wallet: What is It?
The Arculus Wallet is a cold storage wallet that allows users to store, buy, send, receive, swap, and manage their NFTs and cryptocurrencies.
It can be considered an hybrid wallet as it is a physical wallet but, differently to other cold wallets, it doesn’t function without its Arculus App.
It is shaped like a credit or debit card and can easily fit into a card space in your wallet.
Arculus Wallet Price
The Arculus Wallet costs $99, which is the industry average for other hardware wallets offering similar features like it.
Arculus Wallet: How Does it Work?
The Arculus Wallet or Arculus Key Card, unlike other hardware wallets, isn’t shaped like a USB drive and does not require USB cables, WiFi, or Bluetooth.
It isn’t connected to anything, rather when you want to make a transaction via the Arculus Wallet app, you would just need to tap the Arculus Key Card on your smartphone. This is a three-factor authentication step that Arculus utilizes to secure your private keys.
TheCard communicates with the Arculus app using a tap-to-transact NFC connection. It also uses CC EAL6+ Secure Element to encrypt and store your private keys.
Your private keys are kept on your Key Card and never stored on your smartphone or saved online.
How to Set Up Arculus Wallet
To set up your go to the Apple App Store or Google Play Store and download the Arculus app.
Once downloaded, launch the app and place your Key Card on any flat surface with its back facing up as you’ll need to place your phone on it.
Next, reference the Card placement position on the images below depending on your mobile device:
For example for the iPhone X – 14, you’ll need to place your card horizontally on your device. On the iPhone 7 / 8 and Pixel 1 – 4, you’ll need to tap it horizontally with the top of the card sticking out.
Tap “Create New Wallet” from the configuration menu and leave the phone and card till setup shows complete.
Next, you’ll need to create a 6-digit PIN. To do so, enter your PIN and then Confirm it by entering it again.
After the PIN has been confirmed, close the PIN process by tapping your Key Card on the back of your smartphone.
Once that’s done, you’ll see an option to choose either a 24-word recovery phrase or a 12-word recovery phrase.
Ensure you write this down as it is the only way to recover your crypto hardware wallet if your card or smartphone is lost or stolen.
This phrase will be only shown to you once. For safekeeping, it is recommended that you write this down on paper and not store it online.
On the subsequent screen, the Arculus app will request that you re-enter your recovery phrase in the same order they were shown to you. As you do so, it’ll fill the “My Secret Phrase” box.
After you’ve selected the right secret phrase, tap “Confirm“.
To take out a word from the box, tap on the word and it’ll go back to the bottom of your screen.
That’s it! You’re set to start using your Arculus Wallet.
How to Send and Receive Coins
To send cryptocurrency from your Arculus Wallet app, choose “Send” from the bottom navigation bar or go to “Wallet” and tap on the desired cryptocurrency then hit “Send”.
Alternatively, you can go to “History” and tap on a previous transaction you sent and you’ll see the option to “Repeat Transaction”.
Tapping this will auto-refill the previous crypto address.
Next, you will see the “Send” screen, tap the QR code icon and scan the QR Code to get the crypto address. You can also copy and paste the address into the Address field.
Input the amount of cryptocurrency you want to send in the crypto field.
Tap “Send“.
Enter your PIN.
Next, tap your Wallet Card on the back of your mobile device.
You should see the “Assets sent” screen pop up to confirm the transaction.
To receive crypto assets, launch the Arculus app and tap on “Wallet” then select the cryptocurrency you want to receive and tap “Receive“.
Next, allow the sender to scan the displayed QR code or tap “Copy” to copy your crypto wallet address to the clipboard.
Alternatively, you can tap the “Share” button to send a QR code or address through various platforms.
You can view the transaction in “History”.
once you’ve received the cryptocurrency.
Unique Features
Arculus For Business
This is a Premium Metal Card equipped with more features designed to protect customers. It solves the latest business security challenges using easy-to-implement solutions that are simple, secure, and tailored to suit a business tech stack.
Arculus for Business was designed to save businesses and their customers from being victims of the numerous scams going on online. The premium metal card technology provides the latest secure authentication, fiat payments, and cold storage for digital assets.
Arculus reduces fraud and protects businesses against hacking attacks using the cutting-edge FIDO2 passwordless authentication protocol.
With just a few taps of the Arculus Key to a mobile device, businesses can protect and authenticate their customers.
The solution caters to customers’ needs including securing NFTs, sending, swapping, storing and receiving crypto, authorizing transactions, logging into their bank account, and other services.
The Arculus platform is customizable, which means that businesses can build multi-factor authentication solutions that are tailored to suit their customers.
Businesses can connect the cold storage solution to their NFT marketplace, crypto exchange, gaming platform, or Financial Institution. Apart from providing security to customers, the solution also grants them self-custody and easy access to their digital assets.
Arculus has a variety of options that can adapt to the priorities of businesses. Businesses can use the noncustodial Arculus Android or iOS app to secure their customers and bolster their brand, they can also work with the Arculus design team to create their own custom-branded Arculus Key card.
Businesses can also leverage the Arculus SDK to integrate into their existing mobile app.
With Arculus, customers can quickly authorize and sign fiat transactions with a few taps.
Cryptocurrencies Supported
Arculus supports just over 60 cryptocurrencies.
Supported cryptocurrencies include BNB Smart Chain, Bitcoin Cash, Basic Attention Token, Avalanche, Amp, Aave, HEX, XRP, Ethereum, Bitcoin, Cardano, Polkadot, Dogecoin, Cronos, Compound, Dai, Gala, Golem, Lido DAO Token, Hedera Hashgraph, Leo Token, Loopring, Avalanche, Litecoin, Decentraland, Maker, Quant, Sandbox, Solana, Shiba Inu, etc.
Does Arculus support NFTs?
Yes, the Arculus Wallet supports NFTs. As with most hardware wallets, Arculus allows you to buy, send, receive, view, and share NFTs via the Arculus Wallet app.
Currently, Arculus supports sending and viewing Ethereum ERC1155 and ERC721 NFTs in the gallery.
To purchase NFTs, you’ll need to use Arculus cold storage wallet and WalletConnect.
Once connected, you’ll be able to purchase Ethereum NFTs on marketplaces like Rarify and OpenSea. You’ll need your Arculus Card and PIN code to authenticate orders.
Arculus Fees
Arculus Wallet does not charge crypto investors fees for sending and receiving digital assets. But as with all cryptocurrency transfers, blockchain fees apply. However, Arculus does not receive these fees.
Also, fees for Swap and Buy are charged by their third-party partners, Changelly and Simplex.
Security
Both the Mobile Arculus Wallet app and the physical Arculus Key are secured with several security features to ensure that users’ assets are not compromised.
The Arculus key card is made of metal and fortified with leading-edge embedded security, a CC EAL6+ Secure Element Hardware Certification.
The Arculus card is truly a secure cold storage wallet. It has no USB connections, no cables, and no Bluetooth. It also never needs to be charged.
To access your wallet, all you need to do is to enter your PIN and tap the card on the back of your phone. There is no need to push any tiny buttons in a USB drive or toggle between screens.
Arculus cold storage wallet provides secure transactions and protects users’ digital assets using three-factor authentication. The three-factor authentication relies on your biometric lock, a PIN, and the Arculus Key card. This means that no one except you, can access the private keys stored on the wallet.
The private keys for the crypto assets are generated, encrypted, and stored in the Secure Element on the Arculus Card.
Instead of a Pseudo-Random Number Generator (PRNG), Arculus uses a True Random Number Generator which is more secure to generate the private keys.
The private keys are generated in compliance with the EIP2333 standard. The recovery phrase is generated using BIP39.
Unlike other hardware wallets that only have CC EAL5, the Key Card has the best-in-class secure element certification of CC EAL6+. CC stands for Common Criteria. This is a standardization industry-specific security evaluation for Information Technology. The Common Criteria Evaluation Assurance Level rating is used by technology companies to verify and validate the effective function of product security features.
It measures the assurance that the security features on a product can stop a threat.
With the CCEAL+ rating, Arculus gives its users the assurance or confidence that the wallet has undergone extensive security testing and excelled. The Arculus team also conducts regular tests to ensure that the Secure Element is functioning exactly as intended.
Also, the chip in the Arculus Card is not a basic NTAG chip, the Secure Element it uses is similar to ones used in passports and banking cards.
Arculus Wallet doesn’t just keep users crypto safe from online threats, the assets are also secured against theft or loss.
If your Arculus Card is lost or stolen, it will be inaccessible because the three-factor authentication which includes the owner’s biometrics is required to gain access.
Only the owner of the wallet can access it.
You can regain access to your wallet if your card is stolen using your 12 or 24-word recovery phrase which was generated during the initial wallet setup of a new Arculus card.
Opening an Account
To open an Arculus crypto hardware wallet account, place your Arculus Card on the back of your phone according to the reference diagram for setup.
There is no KYC verification or sign-up steps involved with a centralized exchange.
Where Can I Buy an Arculus Wallet?
To buy an Arculus Wallet go to https://www.getarculus.com and tap Buy Now.
Arculus Wallet App
The Arculus Mobile App allows users to securely store their crypto assets and NFTs and manage their portfolios on the go.
The user-friendly interface of the mobile app is compatible with iOS 10.0 and newer, as well as Android 9 and later versions.
The Arculus Card communicates with the Arculus Wallet all through secure Near Field Communication (NFC).
During transactions, the card uses the 13.56 MHz frequency to communicate with the mobile device.
The Arculus Mobile App supports a single card at a time.
You can use the same card with multiple phones, all you need to do is to restore the same wallet and use the same PIN code on each phone.
You cannot use the same wallet app for different cards.
To use a different card on the mobile app, you will have to go through the wallet recovery process and switch from one wallet to another.
Customer Satisfaction
The Arculus support team offers customer service via email at support@arculus.co and phone at 202-807-1406.
The platform has a support center that is equipped with blogs and videos with general knowledge and how to use the product.
The majority of Arculus users are satisfied with the security of the crypto cold storage wallet and the user-friendly interface of the mobile app.
Why Use a Hybrid Wallet?
A hybrid wallet offers the convenience of a hot and cold wallet at once. This means that you don’t need to search for a compatible and secure software wallet to use with your hardware wallet.
You get both options together, which ensures ease of use and enhanced security (no-third party worries).
Alternatives to Arculus Wallet
Top alternatives to Arculus include Tangem (also a card hybrid wallet), Ngrave Zero Wallet, Trezor Model T, and the Ledger Stax.
Final Thoughts
Arculus offers an innovative and portable hardware wallet alongside a proprietary software wallet that is easy to use for beginners.
The crypto cold storage wallet stands out for its card-shaped design and NFC tap-to-transact feature.
However, unlike its rival Tangem which offers 3 cards, the Wallet comes with only 1 card, which makes losing the wallet a larger risk.
FAQ
Most frequent questions and answers
The safety of the Arculus Wallet is largely dependent on the user as the company does not store your crypto private keys, recovery seed phrases, and personal data.
Arculus wins in ease of use and aesthetics but the Ledger wallet offers storage of more digital assets and connects with other popular DeFi apps like MetaMask and Coinbase Wallet.
Yes, you can buy crypto through Arculus but this is via their third-party partners Simplex and Changelly.
Arculus is owned by CompoSecure.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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