In the world of Bitcoin, operational and security mistakes can be costly; there are countless documented stories of hacked and lost Bitcoin that serve as a cautionary tale to never slack on your setup and security practices. As Bitcoins’ relative purchasing power rises, mistakes only compound in their cost to the individuals or businesses who have lost those coins.
As Bitcoin matures and reaches more users, the need to have dedicated devices with a distinct Bitcoin-focused user experience grows. Custom Bitcoin devices, like signing devices, are designed specifically for handling Bitcoin transactions and play a pivotal role in ensuring the security and integrity of this revolutionary form of currency.
These devices offer several distinct advantages over general-purpose computers or Smartphones for managing Bitcoin holdings.
First and foremost, they provide an unparalleled level of security. By isolating Bitcoin keys and transactions from internet-connected devices, custom Bitcoin devices significantly reduce the risk of hacking and theft.
Furthermore, custom Bitcoin devices are often designed with user-friendliness in mind, making them accessible to a broader range of users, even those with limited technical expertise. This ease of use encourages wider adoption of Bitcoin, promoting its growth and acceptance as a mainstream currency.
Each year, we see new Bitcoin-related devices launch either as improvements on previous designs, such as hardware wallets and ASIC miners or focusing on brand new use cases, like the Satslink.
What is the Satslink?
The Satslink is a hardware wallet developed by Coinkite and released in 2023. It is a peer-to-peer, hackable, multi-purpose device that can be used for a variety of Bitcoin and Lightning Network tasks, including:
- Storing Bitcoin and Lightning Network funds securely
- Sending and receiving Bitcoin and Lightning Network payments
- Managing multiple Bitcoin wallets
- Signing Bitcoin transactions offline
- Running Bitcoin and Lightning Network nodes
- Using Nostr, a decentralised social media protocol
Satslink looks like a Cold Card in many ways and has some similarities, but it is an entirely different device. The Satslink contains a secure element, which is a hardware component that stores private keys and other sensitive data in a secure environment. It also has a built-in display, microSD card slot, and Wi-Fi and Bluetooth connectivity.
The Satslink is designed to be easy to use, even for beginners. It has a simple and intuitive interface, and it comes with a comprehensive user manual.
The Satslink is a powerful and versatile Bitcoin and Lightning Network device that is suitable for a wide range of users, from beginners to experienced professionals.
Some of the key benefits of using Satslink:
- Security: The Satslink is a highly secure device that protects your Bitcoin and Lightning Network funds from theft and hacking.
- Versatility: The Satslink can be used for a variety of Bitcoin and Lightning Network tasks, including storing funds, sending and receiving payments, managing wallets, signing transactions offline, and running nodes.
- Ease of use: The Satslink is easy to use, even for beginners. It has a simple and intuitive interface, and it comes with a comprehensive user manual.
SATSLINK specifications
- ESP32-S3 main CPU running at 240Mhz with 512k of RAM and 8M of flash
- Wi-Fi (2.4Ghz) and Bluetooth support
- ESP-Now protocol for device-to-device radio, Internet access via your 2.4Ghz Wifi access point
- 320×240 colour LCD (IPS with wide viewing angle)
- Full QWERTY keyboard
- NFC tag emulation (NFC-V radio protocol)
- QR scanner module (with light, dedicated co-processor for image processing)
- RGB light for “message waiting” feature (top left corner)
- Secure element for private key storage (Infineon Trust-M, with open documentation: SLS32AIA010MHUSON10XTMA2)
- Powered by 3 x AAA cells or USB-C port
- Dedicated keyboard scanning chip to reduce CPU load
- MicroSD slot for data transfer
- Expansion GPIO and serial port for hacking/debugging (includes all ESP32 programming connections)
- Programmed in Micropython, all source code is fully-available; completely field upgradeable with no locked-down ROM areas.
- Rugged plastic enclosure
“Being dissatisfied with the connected and DIY options, we felt the need to create a better hot platform. Bitcoin is expanding scripting/mpc options and we now have Nostr. Someone had to make a good connected and portable device for developers and enthusiast to create the next generation of freedom functionality,”
NVK, founder at Coinkite, told Bitcoin Magazine.
Why would I want a Satslink?
At the moment, you have two options when dealing with Bitcoin: you can either have a secure cold device that keeps your keys away from the internet and allows you to perform transactions through an air-gapped method or a tethered connection, or you can use a hot wallet with the keys stored on the internet connected device.
- Cold wallets are great for long-term storage but aren’t practical for day-to-day transactions.
- Hot wallets are great for quick set-up and daily interactions but aren’t suitable for storing large sums of Bitcoin.
Having a device that can act as a healthy middle ground between the two is very much welcomed, especially for those who use the Lightning Network.
Satslink can remotely connect with Bitcoin nodes, be it at one’s home, office, or even the cloud. The ability to separate your keys from your Lightning node can be helpful for larger routing nodes worried they have too much exposure and encourage more node runners to run Wumbo channels, bringing more liquidity to the network.
The Satslink could secure your newly created but oh-so-precious nostr account and act as your nostr signing device.
Features of the Satslink include:
- Security: The Infineon Trust-M secure element stands as a bastion for private key storage pertaining to your Bitcoin node.
- Remote Node Management: Harnessing SATSLINK’s multifaceted communication mechanisms will help Lightning Network node management, especially in regions with limited internet access.
- QR Payments: The embedded QR scanner in SATSLINK paves the way for streamlined Lightning Network transactions and instantaneous payments.
- NFC-Enabled Payments: Transact with ease, courtesy of SATSLINK’s NFC tag emulation, which propels contactless Lightning Network payments.
How Bitcoin app developers, wallet developers, node developers and nostr developers will take to this device is anyone’s guess, and we’ll have to wait and see what use cases are developed once the Satslink is available for sale.
But based on its promised features, if you are looking for a secure and versatile device to augment your Bitcoin, Lightning Network and even your Nostr experience, then this device might have to move up to the top of your shopping list.
Do your own research.
If you want to learn more about the Satslink, use this article as a jumping-off point and don’t trust what we say as the final say. Take the time to research, check out their official resources below or review other articles and videos tackling the topic.
