Bitcoin Chaser - July 3, 2017
Hardware wallets are probably the hottest item in the cryptocurrency space right now. To find the best hardware wallets to store your cryptocurrency in safely, we decided to contact Joseph Wang, the CEO & founder of CryptoHWwallet.com. Joseph agreed to give us his insights on the hardware wallet industry, and how the sale and distribution of these wallets works through his business. Here is everything you need to know as a customer, about the purchase of cryptocurrency hardware wallets.
Bitcoin Chaser: What was the inspiration behind CryptoHWwallet and why did you get into this business?
Joseph Wang: CryptoHWwallet is a One-stop cypto hardware wallet superstore, the idea behind it was that any buyer can come to our website and should be able to find all the best brand hardware wallets available in the market today. We do more than just wallets, we do custom made high quality accessories for these wallets such as premium quality leather cases, keychains etc. I first lost Bitcoins to hackers in 2015, so that motivated me to be serious about security in terms of how to secure my crypto, so I dived deep into hardware wallets.
I’ve always been an ecommerce entrepreneur for the past 10 plus years, so adding hardware wallets to my product line was an easy decision and a no brainer deal for me, but one may ask what’s my advantage over the wallet makers such as Trezor, Ledger etc.? I would say that I add extra value to my business model to our customers. The crypto market is big, and it’s growing fast, and it’ll continue like this for a long time. So, my model behind it is creating value to customers who use our website. I want to play the role of BestBuy in terms of distributing these hardware wallets. BestBuy does not conflict with Samsung, Apple, Sony, etc.
We can coexist with all major wallet makers in harmony. Here are a few things we do for our customers: we are US based, so our main market is in USA. Most of the hardware wallet makers are in Europe except Keepkey, so to be a decent size reseller in USA makes sense for the giant USA market. We like to store ample amounts of units to keep them always in stock (although it’s not happening due to extreme demand, but that should change later after August). We offer great customer service and competitive pricing, faster & free shipping (if there are no inventory backlog issues), free crypto gifts all the time with or without purchase. Now we offer free crypto T-shirts to everyone! Lastly, we are proud of our premium quality leather cases for the wallets, you’ll feel the difference when you put a leather case onto the wallet. It’s just amazing. We’re only going to offer the best to our customers, not even the 2nd best, that’s our goal at CryptoHWwallet.
BC: Which wallets do you work with?
BC: How does demand for different hardware wallets looks like right now? Which are the leading regions or countries in terms of demand for hardware wallets?
JW: The highest demand by brand, model, and region are as follows: Ledger Nano S, Trezor, Keepkey, Digitalbitbox, and USA, Europe, Asia, mainly Japan and Korea in my opinion.
BC: Which are your top 5 products in terms of sales?
JW: Ledger Nano S, Trezor, Keepkey (would make the cut if we have them I believe), Ledger HW1, and Digitalbitbox (very good wallet made in Switzerland, will soon come out with Altcoin support and LCD screen as well)
BC: Where is demand for hardware wallets growing the fastest?
JW: My experience is USA and Europe and Asia.
BC: How do you expect demand for hardware wallets to fluctuate over the following 2 to 3 years?
JW: It will continue this exponential growth if the cryptocurrency continues to boom. I also predict that hardware wallet users will reach over 50% crypto investors due to the nature of its unique ability of guarding private keys as well as signing transactions in a safely manner.
BC: Do bitcoin or Altcoin prices affect demand for hardware wallets? How so?
JW: Absolutely, I can speak from our sales experience, I would say that a lot of people feel Bitcoin is too expensive to get into so there are more Altcoin investors, we have Bitcoin only hardware wallet which are the Ledger HW1 and Digitalbitbox, those do not sell as well as the multi crypto support Wallets such as the Ledger Nano S, Trezor and Keepkey. This is solid data and we feel it with its continuous demand in Altcoin questions etc.
BC: Some central banks around the world are considering blockchain solutions to demonetize the economies of their countries. In a hypothetical cashless world with blockchain-powered national currencies, how fast will you be able to supply wallets for fiat currencies? Will you be willing to sell hardware wallets that support national cryptocurrencies on CryptoHWwallet at all? How will you decide?
JW: This would be completely up to the makers of these wallets. I’m kind of at the mercy of selling whatever they make, but I’m sure if it makes business sense, these hardware wallet makers will jump on it and make them a reality.
BC: What would you say to anyone who is on the fence about buying a hardware wallet on CryptoHWwallet?
JW: I would love to have the honor to serve anyone in the world, and I would take immense pride in doing so because I feel the community is giving me a lot of trust as a business entity, and we won’t abuse that trust. We continue to open all platforms for better communication with our customers as well as keeping them well informed. We are new in the space but we want to do well and serve all the people in this loving community. The demand is so huge right now, we do not have wallets (except some Bitcoin Only wallets we still have at this point), and we are mostly taking pre-orders and working closely with the wallet makers to minimize the delay as much as we can, but it’s not an easy task when they are running out too.
BC: How do you see the hardware wallet industry evolving in the coming years? Are there any new products that would surprise your customers coming up?
JW: It will continue to grow for sure, and the way I see it is that this will become a necessity item if you own any crypto. New products and new features will also come for sure, there will be fancier features with many of these wallet makers to stay competitive and cutting edge I foresee, but exactly what, that remains to be seen, it’s up to the hardware wallet maker leaders to decide. Right now, let’s satisfy the current demand first by getting people wallets to secure their asset.
BC: How do you differentiate CryptoHWwallet from the competition?
JW: I want to say that CryptoHWwallet adds value to what it is already to stay competitive and we are the BestBuy for all wallets makers. We do not consider ourselves as a competitor but rather playing a supplemental role by taking off some of the current selling pressure that they experience.
BC: With BIP 148 coming up on August 1st, where do the wallets that you sell stand?
JW: Wallet makers in my opinion will stay neutral and serve wherever the demand is, that would be a smart thing to do if I’m a wallet maker, but it’s not up to me to decide. If BIP 148 happens, I’m sure they’ll have a solution for it, and I’ll be happy to be on board supplying wallets continuously.
BC: Do you support BIP 148 personally and what do you think about this proposal?
JW: I’m supporting anything that’s good for the community. I also think BIP 148 is a viable solution to the current problems we are facing. Lastly, I want to thank all the people in the crypto space whether you know CryptoHWwallet or not, without you guys the demand wouldn’t be so high, the price wouldn’t be so high, therefore the demand for wallets wouldn’t be so high, because of what you all contribute to crypto. This is the reason we are in existence, and thank you all and God bless!
Special thanks to Tzvi from BitcoinChaser.com for having me! Wish you guys great success and continue to serve the community well.
If you are serious about security, and are looking for a hardware cryptocurrency wallet, then please do not hesitate to visit CryptoWHwallet.com to see the best hardware wallets available today.