Spatium Keyless Cryptowallet
Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
Spatium advertises this product as a keyless wallet, claiming that their “proprietary Multi-Party computation protocol eliminates the need for private keys, removes the single point of failure, separating control over the funds from the responsibility for security.” The private key is replaced with a set of secrets distributed between the gadgets or devices stored on behalf of chosen institutions or people.
is the companion app to this wallet on android.
Here is a video demonstrating a prototype. Note that the device in the video is different from the device’s picture on their website. The wallet has a screen display as well as a “button” for confirming transactions.
Spatium’s Medium article features more information about the product:
- They use wireless (NFC and Bluetooth) technology to connect to external devices.
Instead of wires, we use NFC and Bluetooth technology to securely interact with your other devices without any of the hassle common to today’s cryptowallets. This ability to crypto not only securely but wirelessly has been a demand of hardware (cold) wallet users for years.
- Rather than having the user set a password, the product utilizes biometric sensors. The user is allowed to register five different fingers to unlock the device.
The biometric sensor on our cold wallet allows you to scan five different fingers for the most secure, finger-injury proof method of authorization (this addresses a common fear/question about something happening that would make one finger’s print ineligible — for our wallet, there are 4 more fingers to work with).
The biometric authorization is quick too: instead of remembering a lengthy password, just press one of the five saved fingers against the reader on the wallet.
The article mentioned above also claims you can “check their progress in Spatium’s Github repository”. We checked the provided GitHub profile and found that none of the repositories have seen recent updates, and we could not find any directly relating to Spatium’s firmware.
Spatium’s code is not available for review. We believe that the most telling verdict is the lack of a screen on the Spatium Keyless Cryptowallet’s picture. Note that in the video described above, it has a display and buttons.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.