1Password has announced a collaboration with crypto wallet provider Phantom that it hopes will help customers keep their cryptocurrencies out of the hands of attackers.
As part of the partnership, the company's password manager will be integrated directly into the Phantom wallet, which supports a variety of crypto tokens and NFTs hosted on the Solana blockchain.
By selecting the new “Save to 1 Password” option, Phantom users will be able to auto-populate a 1 Password list containing all the credentials needed to access their wallet and transact with Solana-based tokens.
1Password doubles down on crypto
Since the price of Bitcoin began to skyrocket in late 2020, several million more people have become owners of cryptocurrencies. However, storing cryptocurrencies and other blockchain-based tokens securely is not as easy as it should be.
As a multitude of security incidents have made clear, storing cryptocurrency in a custodial wallet (i.e., a wallet operated by a cryptocurrency exchange) is not ideal, with major exchanges attracting significant attention from cyber gamers. .
In an optimal scenario, the criptomoneda debe almacenarse in billeteras of hardware fuera de línea inaccesibles para los atacantes. But for convenience and accessibility, many people opt for third-party "hot wallets" like Phantom, which still allow users to take control of their own private key (without which no one can access cryptocurrency tokens). una cuenta).
According to 1Password, the new partnership will allow users to store their wallet login credentials and private keys securely, bringing new demographics to the crypto space.
"Crypto innovations are reshaping the world, but for many it seems too confusing or risky to join this transformation," said Jeff Shiner, CEO of 1Password.
“Our technology partnership with Phantom is another example of how 1Password makes technology more human-centric. Together, we are simplifying management for existing investors and lowering the barrier to entry for those who want to buy and trade digital assets securely through a platform they know and trust.
TechRadar Pro asked 1Password if users can look forward to future partnerships with wallet providers that serve the broader crypto ecosystem beyond Solana.