Many people are only just now getting introduced to the exciting world of crypto. With so many coins, wallets, and investment strategies, things can get overwhelming. There is one thing, however, that should be considered before all else – the security of your funds. This is exactly why this post will be delving into an honest Billfodl review.
Unlike banks, cryptocurrencies are stored in digital wallets, which only you have control over. No bank or institution will protect your funds. As such, you should seek out ways to ensure the safety of your crypto, under any potential circumstances.
In our efforts to increase the security of our crypto wallets, we discovered just how useful Billfodl really is.
We instantly fell in love with the design and loved the whole concept around the idea. We instantly noticed that this product solves many of the problems associated with the protection of a wallet’s backup phrase. As such, we decided to get one for ourselves and give an honest Billfodl review.
Whether you are a total beginner or a seasoned pro, this article will help you get a better understanding of what Billfodl is and how it works. Ready to dig in? Let’s get started.
Billfodl is the safest option when it comes to securing the backup phrase (seed phrase) of your hardware wallet.
When you buy a new hardware wallet and set it up for the first time, you will need to jot down several words (12 or 24). These words will help you restore your wallet(s) in another device, in case your wallet is ever stolen, lost, or permanently damaged. Here is how it works:
The Billfodl is a stainless steel case that acts as an additional protection layer for your wallet’s backup phrase. You can simply slide in the stainless steel letters to form the words which you previously wrote down.
This practice will help you store your mnemonic phrase away from the weather elements, and any other potential dangers.
To get a better understanding of how Billfodl works, here is a quick video demonstration:
Benefits of Billfodl
Billfodl has several features that make it worth considering:
- It can be used with any crypto wallet: You can use the case with any crypto wallet on the market. Due to its built, it can support seed phrases of 12-24 words, multisig setups, or even your wallet’s private keys.
- Very easy to set up, even by total beginners: Setting up your Billfodl takes less than 10 minutes and there are no complicated processes that may expose the security of your case.
- Laser-engraved tiles: The tiles are laser-cut and laser-engraved. This means that the letters and numbers on the steel cannot fade by the passing of time.
- Laser-cut case: The case of Billfodl is laser-cut with precision. This ensures that all the tiles will fit perfectly, making it easier to enter your mnemonic phrase. Removing the tiles to rearrange them is equally easy.
Billfodl vs other steel cases
Billfodl is not the only steel case used to protect your seed phrase. In fact, it is not even the first one of its kind. However, in this Billfodl review we will also take a look at the competition in the market.
Billfodl vs Cryptosteel
While Cryptosteel is considered to be the first-ever steel crypto-wallet in the market, it has several disadvantages. The most obvious one is its price.
- The Cryptosteel cassette, a product that is almost identical to Billfodl, starts at $110, which is $20 more expensive than the latest.
- Aside from that, Cryptosteel’s minimum spending for free shipping is $150, while Billfodl is $120.
As such, it is easy to see why Billfodl is the clear winner in this comparison.
Billfodl vs Cryptotag
Cryptotag is another popular wallet, possibly because it’s made from titanium, a material even stronger than stainless steel. The problem with Cryptotag, however, is the way you enter the mnemonic phrase.
- The words need to be entered in a form of digits (BIP39), which on one hand increases security, but on the other hand makes things much more complicated than they need to be.
- Apart from that, users need to manually stamp the numbers into the wallet, a process which could lead to irreversible mistakes.
- As for its price, the starter kit is priced at $120 and free shipping is only available upon purchasing two products.
In this case, the best option is somewhat subjective. Do you value maximum security, even at a higher price? Then Cryptotag may be a good idea. But for the sake of convenience, Billfold seems to be doing a better job. If you simply hide your Billfodl away from prying eyes, there is no need to overcomplicate things and pay more than you should.
Storing on paper vs metal
When buying a hardware wallet (e.g. Ledger Nano S), you will receive several pieces of paper that are used to store your backup seed. A great practice, in this case, is to hide each of these papers in secure locations, for no one to find apart from you.
However, a paper backup is very fragile. Once exposed to the elements it can be easily destroyed. The most common way this happens is damage caused by extreme weather conditions.
Apart from that, paper is also not resistant to time. Ink may fade after storing your paper for a long time. This could destroy the words you previously wrote down.
Someone may also accidentally find the piece of paper and mistake it for something old and useless. As a result, it may be thrown away while cleaning the house or get lost.
When it comes to its resistance to the elements, Billfodl is:
- Water proof – Due to the built of the metallic case, your seed will be readable under any “liquid” accidents. This includes anything from floods to hurricanes.
- Fire proof – In contrast with the typical “Recovery phrase” paper, that comes with your hardware wallet, Billfodl is not affected by fire. The strong built of the case can withstand fires that are much higher than a typical house fire.
- Shock proof – It can withstand up to 1.000.000 volts of electricity, which is equal to atomic bomb blasts.
- Hacker proof – A Billfodl can be compared with a paper wallet. All your information is stored away from the computer, and thus from the dangers of the internet.
- Accident proof – You will think twice before accidentally throwing away a metallic case. The same is not true for a piece of paper.
Should you buy Billfodl?
The obvious question that goes through everyone’s mind is whether or not it is worth investing in a Billfodl, when you can perfectly well use a piece of paper instead.
After reading the above, you hopefully have a better understanding of the risks involved, when using a simple piece of paper. As such, anyone that holds a significant amount of crypto in their wallet should consider using Billfodl as a backup.
For the large majority of investors, crypto is already stored in expensive hardware wallets that are usually priced between $70-$200. If you, as a HODLer, were willing to pay this amount to store your funds, you should certainly consider using an additional “insurance policy” against extreme weather conditions, for which paper is simply not fit.
As with most things in life, it is best to be prepared for the unexpected, even if this means spending a few extra bucks along the way.
How much does Billfodl cost?
Billfodl is not necessarily cheap. However, its price is well worth it in case misfortune ever hits. The price of a single steel case is currently priced at $89, which makes it the cheapest of its kind.
Shipping is free for US customers, but buyers from any other location will need to order at least two devices to qualify for free shipping. However, when it comes to their product selection, there is no need to worry. Billfodl has many bundles, including several combos of its steel case with popular hardware wallets.
Can I use Billfodl as a crypto wallet?
Theoretically, you could… but it is certainly not the smartest thing to do. You see, the only option of doing so would be to create a new cold wallet (e.g. paper wallet) and place your private key into the Billfodl.
Paper wallets already pose several disadvantages, especially if you want to use your crypto for small transactions. Aside from that, you would need to input your private key every time you want to access your funds.
It is best to invest in a hardware wallet, which makes access and spending a lot easier. Then, you can use Billfodl as a complementary way to increase the security of your funds.
Simply set up your hardware wallet and, when your seed phrase is shown, enter the designated tiles into the steel case to ensure an easy backup, if ever needed.
Where to store your Billfodl
After you enter your backup phrase into the Billfodl, you can go ahead and store it in a safe location. The ideas are endless and only limited by your imagination.
The cool thing is that the steel case can withstand extreme temperatures and unusual conditions. So go ahead and get creative:
- Hide it on the bottom of your freezer
- Bury it in your yard
- Place it under the stones in your aquarium
- Stuff it under your old clothes
The options are literally endless. So go ahead and find what works best for you. Just make sure you don’t forget where you placed it.
Unboxing the Billfodl
This is, no doubt, the best part of the Billfodl review. After placing our order, we received the steel case in just a couple of working days. Upon opening the package, we were pleasantly surprised by the weight of the case, which felt quite heavy in our hands. And to no surprise, as all elements of the case are made from 316 stainless steel.
After opening the box we were presented with the case and the tiles, which were arranged nicely for our convenience.
The tiles are all equal in size and placed in the box in their respective pouch. Simply open up the paper cover to reveal them.
We opened the case and attempted to unscrew the small bolt with the help of a tile. It was very easy to do.
When the bolt is unscrewed, you will be able to enter the steel tiles. You know how some things are just “so satisfying” to do? Well, this is one of them. Since the tiles of the device are cut with precision lasers, they fit in the case with millimeter precision.
Now, what makes it interesting is that you can enter the number of each word (according to BIP39 dictionary) or add the words themselves. We went with BIP39 numbers as there are only 4 positions available for each word.
When finished, the wallet can be stored anywhere you like, and your funds are safe.
What if the device does not come as expected?
One of the most impressive things about Billfodl is their return policy. Not only are they confident that you will love their product, but they are willing to offer a 125% refund in case their product(s) do not meet your expectations. That’s right! You will get all your money back, plus 25% on top.
In case you simply want a replacement, that is possible as well. You can swap your wallet with a new one. In that case, Billfodl will offer an additional 30% refund on your purchase. It certainly seems like the company understands the value of their product and your time.
In our case, we felt like we got exactly what we expected. This is why this Billfodl review is so positive. So no issues there!
Billfodl customer support
When we first laid our hands on Billfodl we realized that one could only add 4 letters for each word forming their backup phrase. This confused some of our writers who, thankfully, never had to enter their mnemonic phrase in another wallet before.
So, to make sure we did everything correctly, we contacted Billfodl’s customer support via email and asked for more information on this seemingly odd situation.
The team responded in less than 24 hours. They told us that this question comes up quite often, and helped us better understand how BIP39 language works. We were all very happy with the answers and were impressed by the service provided. As a bonus, we now have a better understanding of BIP39!
There are many ways to protect your crypto funds. And, as the cryptocurrency space evolves, security becomes an increasingly important topic of discussion. Thankfully, companies like Billfodl make HODLing fun and easy, while taking away some of the stress that comes with it.
While not necessarily the only way to ensure the security of your funds, it does provide help against extreme weather conditions. It is certainly a great way to ensure that your backup phrase will always be safe and sound if you ever need it.
We hope you enjoyed this Billfodl review. As always, let us know what you think, in the comment section below.