Sugi Wallet is one of the best hardware wallets in the market that was developed by the European Fintech Company, Sufitto. It is uniquely designed to provide crypto users with a unique crypto storage solution. Like the majority of hardware wallets, the device stores its private keys on the device. It does not integrate any kind of internet connectivity to prevent any form of online attack. Even without an online connection, however, the crypto hardware allows users to send and deposit crypto just as easy as using a bank.
Even so, what makes it unique? It consists of the Sugi mobile wallet application and card. It allows users to store and make seamless and secure transactions with multiple cryptocurrencies. But, how does it compare to other popular wallets in the market? Read on as we will provide you with detailed insight into everything you need to know about it in this review.
OS compatibility: The device is compatible with iOS and Android systems. What’s more, Sugi only works with mobile devices with the Sugi app installed.
Multi-currency support: The Sugi card is capable of supporting a myriad of cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash (BCH).
Secret PIN sharing scheme: Sugi is specially designed to assist its users with their fund’s recovery process in case they forget their PIN or lose their cards. It integrates a secret PIN sharing scheme that is quite helpful despite users not having access to their funds.
Easy-to-use: The device is specially designed with a unique design that makes it quite easy to use. Typically, if you can tap a card, you can use Sugi. You don’t need crypto experience to utilize the wallet.
Backup phrase: Like the majority of hardware wallets, Sugi comes with a backup phrase that can be used to restore access to your funds when you lose your card or forget the PIN.
Offline private keys storage: Sugi wallet is a unique hardware wallet that securely manages its user’s cryptocurrency private keys. They are safely stored offline, and they never leave the device.
Uses near field communication (NFC) card: Sugi is uniquely designed as an actual PIN-protected near field communication (NFC) card hardware wallet.
The best thing about Sugi is its ability to integrate its NFC card on Android portable devices. The card holds a special key that is safely stored in the secure element (SE) and allows users to transact on multiple blockchain networks. What’s more, the keys are stored offline, which makes it an ideal option for crypto users looking for a secure cryptocurrency hardware wallet. Notably, the wallet also complies with the security standards in the European Union (ISO/IEC 14443).
Sugi is also designed with a backup phrase that can be used to restore your access to funds in case your card is lost or damaged. It recovers your funds through a secret sharing scheme that breaks down information to different parties. Notably, the data is divided in a manner that no single party can access the funds without the specific keys. It was created by some of the most experienced engineers in the industry since 2009.
How Does the Sugi Wallet Work?
The Sugi card is quite easy to use. You only need the Sugi mobile app, and you are good to go. Unlike the majority of hardware wallets that requires a laptop or desktop to configure, Sugi wallet is relatively easy to use. Its design makes it easy for anyone, mainly because it does not require a lengthy and complicated setup. You just need to know how to tap the card and make payments. Read on for an insight into how to use the card to make payments.
How to Make Payments Using the Card
If you are looking to make payments with the Sugi card, here are the three steps you need to follow:
Step 1: Download the app
The first step is the download the app from Playstore or iTunes- depending on the device you are using.
Step 2: Create an account
After the download is complete, open the app and create your account. You will be prompted to enter your email address and set a PIN. Confirm that you have read the terms and conditions and click on “create account” when you are done.
Notably, ensure you have confirmed your email address for your account to be active.
Step 3: Tap the card on your phone
It is as simple as it sounds. You are only required to tap the card on your phone.
Adding cryptocurrency to your Sugi wallet
The process of adding coins to your Sugi card is pretty much the same as the majority of hardware wallets in the market. You are required to load your cryptocurrency on your mobile wallet first. After doing so, you can conveniently access the funds from your mobile app. To receive funds, go the “balance” section from the app, copy the address, and sent it to the sender.
Sugi supports quite a good number of popular cryptos, including Ethereum (ETH), Bitcoin Cash (BCH), XRP (XRP), Litecoin (LTC), and all ERC20-based tokens. The company has also hinted that it is looking to add more cryptocurrencies in the future. What’s more, it is also planning to incorporate fiat functionality by partnering with several banks in Europe.
Pros and Cons
- Users only need to authenticate transactions by tapping the card on the phone
- It features both cryptocurrency and fiat payments
- It is the only hardware wallet with NFC card
- The card can be customized
- ATM withdrawals and in-store payments are among some of the device’s future implementations
- Cheaper compare to the majority of hardware wallets
- Can only be used with mobile apps
- Does not support fiat currencies
How Does Sugi Compare to Other Crypto Wallets
Ledger Nano S vs. Sugi Wallet
There is no doubt that when it comes to convenience and ease of use, the Sugi Wallet is perhaps one of the best options. However, Ledger Nano S has much to offer. For instance, it supports more than 1,000 cryptocurrencies and features advanced security features. It also comes with an added Bluetooth functionality, a higher quality screen, and more memory. Even so, the Sugi wallet has pretty much everything you need on the go.
Guarda wallet vs. Sugi wallet
Guarda is a multi-platform wallet with a user-friendly interface that is specially designed to manage, store, receive, and transfer digital assets. The criterion of functionality integrated into the Sugi wallet is pretty much the same as Guarda’s wallet. The only difference is that Sugi is much easier to operate and incorporates a unique near field communication (NFC) card.
One of the best things about Sugi is its timely customer support. Users can contact the support team either through their email or live chat. They offer their services daily, which also means that you can contact them 24/7. Apart from that, they also feature a detailed frequently asked questions (FAQs) section to help users find quick answers to any of their queries. Plus, the team will guide you through the fund’s recovery process should you forget your password or lose your PIN.
Sugi Wallet Price
Sugi card is available for purchase in three plans. You can choose the newbie plan and buy the card for $59.90 or the Pro plan that offers the card for $69.90. Note that the pro plan offers two cards and the option of personalizing them by embossing your name or nickname on the card. Alternatively, you can choose to go with the expert version that offers two customized Sugi cards for $119.90. Typically, all the cards in these plans just look like a regular payment card with a wallet’s logo imprinted on them.
Verdict: Is Sugi Hardware Wallet Worth Your Money?
If you are looking for a crypto hardware wallet that is extremely easy to use, you should try out Sugi. It is one of the best options for newbies or crypto users on the go. The fact that it is the first of its kind to integrate an NFC to communicate makes it unique. What’s more, it also comes as the best option for traders on the more but is worried about their security. The device guarantees your private keys never leave your wallet.