Mike Peterson
1Password has partnered with cryptocurrency wallet company Phantom Technologies to provide an easier way for crypto users to secure access to their wallets.
As part of the deal, 1Password is bringing its API to the Phantom platform. Users who create a Phantom wallet and have an active 1Password subscription will be able to save their login credentials to their password manager.
Users will be able to save their Phantom wallet password, the address of their wallet, and their secret recovery phrase. Any crypto-related content will be stored in a new item type within 1Password.
"Here at 1Password, we want to help secure everything that's important to you, including your cryptocurrency wallets," 1Password wrote of the partnership. "We believe your keys and recovery phrases deserve the same level of protection as your credit and debit card numbers, medical records, and everything else you have stored inside 1Password."
The Phantom wallet platform is a free digital cryptocurrency wallet that allows users to store, buy, send, or receive tokens, coins, and other assets on the Solana decentralized blockchain. Phantom is available through a web-browser or a recently released iPhone app.
1Password's support could make accessing and securing a crypto wallet much easier. Unlike a traditional bank or credit card account, losing a cryptocurrency wallet password often means that any tokens or coins stored in the wallet are lost forever.
And, this is just 1Password's first foray into cryptocurrency. The company promises more in the future.
"This is the first of many partnerships that we've been working on in the cryptocurrency space. It's always been our goal to make it easier for everyone, regardless of their technological proficiency, to protect everything that's important to them," the company said. "And for an ever-growing group of people, everything includes digital assets.
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2 Comments
I haven't heard of that one, but sounds like it is only for Solana? This might be useful if they add a more standard wallet that covers Bitcoin/Lightning Network, etc.
I'd also add, that people will need to think beyond a single wallet with something like this as well. I might trust a wallet/1Password setup for my 'checking account' aspect of my Bitcoin, but if I ever accumulate much (or it becomes too valuable), I wouldn't keep it with something like this. I'd have one or more wallets (offline, or 'cold') with the majority of it in them, and then just transfer 'spending' amounts to a wallet like this.
Nice start though. We're seeing more wide adoption lately, with apps like Cash App getting involved, or even the Coinbase Super Bowl commercial. But, a LOT of education needs to be done as the average person starts jumping in. Buying some Bitcoin or other crypto on one of these exchanges/apps is fine for getting started, but it isn't great practice longer term or with larger amounts.
Huh? Cryptocurrency scam? And, you'd not work with a company that has connections to cryptocurrency?
You've been listening to too much NPR, I guess. And, you're not going to have many companies left to work with soon.