Remembering passwords continues to be one of the most irritating requirements of modern technology. Several password management systems already address this issue, but they tend to be cloud-based, which at least some consumers don’t trust.
Vaulteq is a password managing device that functions as a digital vault that the user has total control over. It is stored in the home or office, but can be accessed from anywhere the user goes with a digital device. It is compatible with Android, iOS and Windows mobile devices, and uses two-factor authentication, a technology that provides identification of users via two different components. To log into Vaulteq, the user needs a password and a virtual token that is sent to the user’s mobile app when registering. An unlimited number of accounts can use one device.
Vaulteq ships in August at future pricing of $149 for a starter kit that includes the device, an internationally-compatible power supply, and an Ethernet cable. But early bird Indiegogo backers can get one for a $99 pledge. A version including one year of premium service has future pricing of $196, but early bird backers can get it for a $129 pledge. A starter kit with three years of premium service has future pricing of $292, but early bird backers can get it for a $199 pledge. Valuteq’s makers hope to raise $50,000 by April 1.
There is a huge potential market for Vaulteq, but there are just too many competing products and services to call it a sure thing. Several of those rivals, including Dashlane and LastPass, are cloud-based, so many consumers may prefer Vaulteq. After all, cloud data centers are a perfect target for hackers and they don’t allow users to have total control over their passwords. But there are other existing options that don’t use the cloud, including Passfort.
Valuteq’s enhanced premium service seems too costly because the free basic service seems to provide users with a good enough solution. But accessing Vaulteq when away from the device sounds much easier if one opts for the pay service. Those who use a browser other than Safari, Chrome or Firefox need not apply because those are the only ones Vaulteq supports.