🎙️FAQ

What are Hardware Wallets?

Cryptocurrency hardware wallets are physical devices designed to securely store your digital assets, such as Bitcoin, Ethereum, and other altcoins. These wallets offer several advantages over software wallets, which are simply programs that you can install on your computer or mobile device to manage your cryptocurrency holdings in a non-custodial manner. With the increasing sophistication of hackers and cyber attacks, it is becoming increasingly risky to store your account private keys on devices that are constantly connected to the internet. Therefore, hardware wallets are becoming an essential piece of hardware that every cryptocurrency user and holder should consider owning, regardless of their level of experience.

One of the key benefits is that a hardware wallet offers an additional level of protection for your assets by storing your private keys offline in a secure, tamper-proof chip specifically made for such secure applications. This makes it virtually impossible for hackers to access your private keys, ensuring that your assets remain safe and secure.

Another benefit is that, when transferring assets or interacting with the blockchain or distributed ledger technology (DLT), the user has full control of the device and is the only one who can verify and approve transactions by pressing a physical button. This ensures that only the user who has initially set up the access pin can access the hardware wallet, protecting against unauthorized access.

If you lose your hardware wallet or forget the pin, you can still access your assets by using the backup phrase provided by the wallet when you first set it up. It is important to keep this backup phrase secure and in a safe place written on the paper in case you need to use it in the future.

Overall, hardware wallets provide a secure and convenient way to store and manage your assets. They offer a high level of protection against hacking and other threats, and allow you to have full control over your assets and transactions. Whether you are a beginner or an experienced user, a hardware wallet is an essential tool for anyone looking to safely and securely manage their assets.

What is Citadel Hardware Wallet?

Citadel Wallet is a hardware wallet similar to other cryptocurrency hardware wallets in the space but with few major differences:

• Network: Citadel Wallet is designed to work with Hedera, a cutting-edge distributed ledger technology (DLT) network. Hedera utilizes a revolutionary consensus algorithm known as hashgraph, which not only addresses the scalability issues commonly encountered with blockchain, but also boasts unique features that enable a range of use cases that were previously unimaginable on traditional blockchain networks. By leveraging these advantages, Citadel Wallet will open up a whole new world of possibilities for cryptocurrency users.

• Security: Citadel Wallet was created to enhance the security features found in some of the leading hardware wallets in the market. By implementing the latest and most advanced Secure Elements (SE), Citadel Wallet is able to provide even greater protection for your private keys. Citadel Wallet is also taking measures to enhance the security of the controller that connects the SE to the external world. Unlike other hardware wallets that utilize generic microcontrollers for this purpose, Citadel Wallet has implemented a state-of-the-art high security microcontroller integrated with an ARM Trust Zone. This advanced microcontroller is specifically designed for high security applications such as blockchains, providing an added layer of protection for our users.

• Usability: Finally, we have placed a strong emphasis on improving the user experience and ease of use of hardware wallets, an aspect that has often been neglected in the crypto industry. The Citadel Wallet aims to create a device that is not only functional, but also enjoyable to use. To achieve this, we have carefully considered various elements of the product's design, including its aesthetic appeal, the size and resolution of its display, the ease of user interaction, and the battery life. Our goal is to make it easier for users to access and manage their holdings at any time and from any location.

What is Citadel Wallet?

Citadel Wallet is one of a kind crypto hardware wallet built for Hedera network to support its native cryptocurrency HBAR and many other services offered by the leading DLT network.

What is a hardware Wallet?

A hardware wallet is a low power and a small size physical device that is specifically designed for securely storing cryptocurrencies, digital assets and signing transactions to interact with the DLT network. It allows you to store your private keys offline, away from the potential threats of online hackers and malware. Hardware wallets are often considered to be one of the most secure ways to store crypto assets, as they provide an extra layer of security by keeping the private keys physically separate from the internet. In order to access the funds on a hardware wallet, you need to enter a PIN code and physically confirm a transaction using a button on the device. This helps prevent unauthorized access to your crypto accounts.

How is a Citadel Wallet different from other wallets?

First generation hardware wallets have been limited in their functionality by supporting native cryptocurrencies of as many networks as possible. Since hardware wallets have a very limited application space available, this approach limits number of other services supported on each Layer 1 or Layer 2 blockchain network. Our approach is different! We want to focus on the fastest, most secure and most advanced network in the world to start with and support as many services as possible on that single network. That way users will have a more complete experience being able to sign any transactions supported by the network. Based on our extensive research into cryptocurrency industry, Hedera is the next generation DLT network which has solved all blockchain limitations: speed, scalability, security and governance. Therefore we chose Hedera.

Why Hedera?

There are a few reasons why someone might consider building on the Hedera network: Consensus and Security: Hedera is built on a novel and revolutionary distributed consensus algorithm called Hashgraph, which has achieved the highest security ever possible called Asynchronous Byzantine Fault Tolerance. Speed and Scalability: Hedera has the ability to process over 10,000 transactions per seconds in a single shard. All transactions come to 100% consensus finality within 3-5 seconds. Transactions cost $0.0001 on average and are predictable, which makes it the perfect platform for businesses and enterprises. Fairness: The Hedera consensus algorithm is designed to be transparent and fair, providing fair timestamping and ordering to all the transactions flowing through the network. Decentralization and Governance: Hedera is a decentralized network ran by world's largest organizations, companies, financial institutions and universities which also govern the network. Network will over time open up to 100s of verified node validators and eventually to 1000s of anonymous node runners. 39 of these enterprise companies will be in the Governing Council of Hedera, making decisions on network's future roadmap and code updates. Governing council positions are term limited and members will be replaced with new companies every 3-6 years.