What is Metal Vault Alpha?
Metal Vault Alpha is a digital cryptocurrency wallet created by Metallicus Inc, that stores Metal (Native Metallicus Inc currency), Bitcoin, Ethereum, and ERC-20 tokens and features advanced security options and a sleek, intuitive design.
Up until the release of Metal Vault Alpha, there hasn’t been a user-friendly, elegant, easy to use, and security feature-rich software solution to store and secure digital assets. With their recent Metal Vault Alpha release, The Metallicus team has raised the bar for competing non-hardware crypto storage solutions (My Ether Wallet, Exodus, Electrum, Mycelium to name a few) by adding additional security features like 2-Factor Authentication and wallet freezing.
Metal Payments (Metallicus, Inc), lead by crypto-space veteran Marshall Hayner, has been featured on CNBC’s Fast Money with Brian Kelly and CNBC’s Crypto Trader. They are also the official presenting sponsor for the 2017 Necker Cup, which takes place from November 27th-December 2nd on Sir Richard Branson’s private island that hosts pro and amateur tennis players and celebrities.
The Metal team consists of many talented members including veteran Apple UX designer Sid Parihar, Chief Technical Officer and dodgechain.info founder, Glenn Marien, and iOS developers Ephraim Russo (founder of VentureMe Inc) and Kenan Pulak (Motiv Inc, Swipe Labs).
If you are familiar with the crypto space, this section is not for you. However, there still exists a large percentage of the population that is either unaware of cryptology and the blockchain technology, or they have heard of Bitcoin but they aren’t sure what it is.
Cryptocurrency is a digital currency, or medium of exchange, similar to other currencies like the USD, with the exception being they are encrypted and secured using cryptography. Bitcoin, being the first decentralized cryptocurrency created in 2009 and operating securely on the blockchain, is the most widely known. The blockchain is a public, non-corruptible ledger system that verifies and stores not only financial transactions, but all types of transactions. There have since been more cryptocurrencies created, and those are commonly referred to as Altcoins.
The appeal of Bitcoin and cryptocurrencies rests in the fact that they are highly divisible, easily transported, anonymous, and they can be transferred to anyone, anywhere in the world in a matter of seconds. You, and only you (if secured properly) has access to your funds.
The Metal Vault Alpha Tour
Now with some of the basics out of the way, let’s get to the actual review.
To get access to the cryptocurrency wallet, all you need to do is use their simple sign-up form on their website here, enter some basic details, and you’re in.
Once inside, you’ll see their beautifully designed interface with default access to your Ethereum and Metal wallets, support chat, and basic settings for your account. The support chat feature within the app is amazingly fast and responsive, and Yannik, the Community Lead, answered me in less than a minute!
Creating a Wallet
Creating a new wallet is easy and takes only a few steps. Once you create your wallet, you’ll be redirected to the wallet’s “Receive” tab so you can send your tokens to your new wallet. Currently, there is hardware support (Trezor, Ledger) for Ethereum and ERC-20 tokens, but hardware support for Bitcoin is a feature that will be added in the near future.
There aren’t many settings or options to bog you down, and I appreciate the team for working harder on their end to make my life more simple. You can change your password, enable 2-factor Authentication, set your default currency, and export your account keycard. Be sure to export your account keycard in a safe place for storage just in case you lose access to your account, and always use 2FA!
One of the most interesting features of the Metal Vault is the ability to freeze a wallet for a specified amount of time. You set a timer within the wallet’s settings, and the wallet will be locked from sending or receiving for that time.
This feature is helpful and can be used to add an extra layer of security, although hardware wallets are the preferred method of storage for many.
Others may want to use this feature to stop themselves from selling off their tokens when they’re feeling tempted (I.E. latest iPhone is released), to store tokens and only allow access once a certain milestone is reached (graduation, birthday etc.), and to protect their funds when they suspect their account has been breached.
For each wallet you create, you’ll have the ability to send/receive directly from the interface, rename your wallet, and review your transaction history. You can change the priority of your transfers depending on your needs and fee tolerance.
Looking to the Future
The Metal team has developed a competition-killing wallet and this is only the beginning. Think of the wallet as a foundation for what is to come. We can look forward to much more from this team, including PoPP (Metal’s proprietary rewards system), ability to buy Metal in-app with Fiat currency and sell cryptos in-app for fiat, FDIC insured bank account with debit card (unheard of in crypto space), Integrated crypto exchange, merchant features like invoicing, and much more.
To sign up for Metal Alpha, visit www.metalpay.com
For support, please visit support.metalpay.com