There are few scenarios more distressing than losing access to your bank account. One of these is losing the keys to your digital wallet. In order to alleviate that fear among crypto users, Toronto-based internet security company 1Password announced today that it is teaming up with crypto wallet Phantom to make it easier and safer for digital wallet holders to access their cryptocurrencies, NFTs and other digital assets.
1Password’s first foray into the digital wallet arena is an application programming interface, or API, called Save in 1Password, which integrates with Phantom wallet so that users can protect and trade their tokens, NFTs and collectibles built on the Solana blockchain.
With Save in 1Password, the company said, digital wallet holders can now save all Phantom wallet credentials and keys to 1Password without the hassle of logging on or the threat of losing access forever. “We just want to make it easier for people to protect their digital lives,” Matthew O’Leary, vice-president of partnerships at 1Password, told ZDNet.
Unlike misplacing the password to an online checking account at your local bank, a password for a digital wallet – and a seed phrase used to reset a password – are the only ways to access one’s digital account.