Using your thumbprint and phone to log in to crypto sites and approve transactions is very convenient — but how does its security compare to a hardware wallet?
Infinex is beta testing a new Chrome browser extension that enables users to log in to the top 100 crypto sites across 20 chains using any old phone with fingerprint or face unlock.
Using a phone passkey tied to a Google or Apple account to log in and approve crypto transactions is arguably a lot easier for new users than learning about wallets and seed phrases, and more convenient for existing users than approving every transaction using a Ledger or Trezor.
“Figuring out the seed phrase security, and private key OpSec et cetera, is challenging for most people, and it has been a filter for getting people on chain,” founder Kain Warwick told Cointelegraph in Singapore last week.
But while passkey systems offer very good security, they are not as bomb-proof as dedicated crypto hardware wallets, which are almost impossible to hack.
As hardware wallet manufacturer Ledger points out, non-dedicated devices come with the risk that the screen could be compromised to trick users into signing malicious transactions, as seen in the recently patched Unity Android game platform vulnerability.
