What you'll learn 👉
Introduction
Bitcoin watch, also known as the Vanguard Encrypto, was launched by Franklin Muller in partnership with Regal and is the first functional bitcoin-supported watch. Frank Muller designed the Bitcoin watch with cryptocurrency users in mind.
There is nothing subtle about this watch. It is relatively larger, measuring 43mm across and 53mm lug to lug. The watch is a valuable possession for people in the cryptocurrency business since it acts as a cold bitcoin wallet. By just scanning the laser-etched QR code, users can access their bitcoin accounts, carry out transactions, and get their real-time balances.
People interested in the watch have a wide variety of case materials to choose from. These include titanium, fiber, carbon, stainless steel, and gold. Customers can customize the dial and band of the watch with some models, even having precious metals and diamonds embedded in the dial and frame.
How does the Bitcoin watch work?
Bitcoin accounts consist of two parts: A private address and a public address. Most users have these two in their electronic devices.
The Bitcoin watch uses an offline generated feature known as TRNGs (True Random Numbers Generated). This method has been in place for a long time now, being especially famous among long time Bitcoin traders. Instead of relying on slips of paper, users can scan their dial.
The watch comes with a laser-etched QR code for the user’s public wallet address, which allows them to check their bitcoin balance and carry out deposits at any time. Moreover, it comes with a sealed USB stick that gives users access to their private keys to make their transactions secure.
The bitcoin watch’s QR code and cold storage system were developed in partnership with Regal Assets, a well-known crypto investment company with offices in the US, UK, Canada, and UAE. The company hit the headlines for being the first to receive a government-issued license to trade cryptos in cold storage vaults.
What are TRNGs?
True Random number Generators have become very useful in securing data. They are at the heart of any security system, and their quality makes them dependable on the security strength of designs. As in the case of the Bitcoin watch in which we have connected devices, the evolving nature of breaches and hacks makes the need for security practically impossible to overlook.
A TRNG is a device or function based on an unpredictable occurrence known as an entropy source that generates indeterminable data to facilitate security algorithms.
TRNGis widely used in cryptography, and by using it in the cryptocurrency world, investors in this field can now rest easy knowing that their funds are secure.
What does trading cryptos in cold storage vaults mean?
By launching a cold storage vault solution for its customers and investors, Regal allows crypto-commodity owners to store their Ethereum, Bitcoin, and other altcoins in a vault located in Dubai. The vault is said to be one of the world’s most secure metal facilities in the world and holds crypto investments in the physical form, together with the company’s gold. All the crypto-commodities are fully insured against hacking, natural disaster, and theft.
About Frank Muller
Frank Muller’s watches, worn by several celebrities, have made a name for him. What makes his watches stand out is are his designs. His watch designing company is named after him, and his watch designs are said to be the most unique and complicated designs in the world. The company was founded in Geneva by Frank Muller and Vartan Sirmakes. They have then gone ahead put themselves on the map due to the care and patience accorded in this craftsmanship
About Regal Assets
Tyler Gallagher, a young entrepreneur, founded Regal Assets. The company started with a small investment and a big vision to revolutionize asset investments. Ten years later, the company has been able to achieve this and more and become the highest-rated alternative firm in the US.
The company began working with cryptocurrency at the end of the year 2017, offering brokerage services and an insuring high-security cold storage service for Bitcoin, Ether, Bitcoin Cash, Ripple, Dash, and Ethereum classic.
What is the price of Frank Muller’s bitcoin watch?
The bitcoin watch might seem to be a bit expensive for someone who does not have much interest in the crypto-world. However, for people interested and invested in digital money, this pricey yet revolutionary commodity may seem like a worthwhile acquisition.
The price of the watch begins at $10,780. Watches made of gold or those embedded with precious jewels have their prices starting at $55,800.
Each case material is limited to 500 editions.
Does the Bitcoin watch support other cryptocurrencies?
As of right now, the Bitcoin watch can only support the Bitcoin. The regional director for Frank Muller, Erol Baliyan, announced that Frank Muller is currently looking into other altcoins including Ethereum and Ripple XRP for future models.
Is the Bitcoin watch safe?
The Bitcoin watch uses a cold storage wallet and an offline feature known as TRNGS (Total Random Numbers Generated), which cannot be hacked and has been in place for a very long time in the crypto world for its security.
What are the reasons for skepticism regarding the Bitcoin watch?
Even with all its security and well-developed features, some people are finding it hard to trust the Bitcoin watch.
The first reason arises from the two addresses that the watch contains. The public address key is accessible on the outside of the watch. Inside the watch is where the private key is located. This occurrence brings up skepticism over the fact that the public address key is on the outside. That means that at some point, the manufacturer of the watch had access to the private key. That provides a loophole for breaching users’ privacy and puts their investment at risk.
Next is the fact that unlike regular watches that you can quickly sell, the same does not apply when it comes to the Bitcoin watch. The buyer would not fully trust that you do not have the private key and kept it. To buy this watch, you’d need to directly contact the manufacturers, which would assume that you trust them to begin with.
Conclusion
True to its objective, the Vanguard Encrypto has held on to its purpose by being both a revolutionary design and conveying craftsmanship that bears witness to the talent and genius that is Frank Muller. The watch serves its purpose of telling time, coupled with the added benefit of allowing its users access to a digital currency that has become the millennial gold. It is, without a doubt, a remarkable masterpiece.
