Bitcoin wallet password requirements / Dogecoin hashrate wallet

Versocards are a novel idea but need more work.

By Dan Roseman I was asked to review the Verso Cards - a credit card-sized Bitcoin paper wallet containing a public address and encrypted private key used in combination with the Verso App to safely and securely store bitcoins. I evaluated this unique Bitcoin wallet system and came to the conclusion that it is neat, but not ready for mass market.

From the VersoCards.com website:

Verso Silver and Verso Gold are credit card-size vaults for your bitcoins. Carry them around in your wallet or hide them under your mattress. You have full control over your money. All-in-one Verso Cards are double sided. The public side shows your address and lets you credit your card. The private side offers a secure access to all management features of your card. Robust Verso Cards are cold storage wallets that do not rely on electronics. They are immune to hacking, highly resistant and durable. They are built to last.

My opinion:

Verso Card needs improvement from a security and aesthetics standpoint. The card has two sides which are not clearly labeled; one side contains a public key (unencrypted) and the other contains an private key encrypted with a password chosen by the user at the time of purchasing the Verso card. The password was problematic for me at first, as I had forgotten which password I had chosen and the card arrived more than a week after I ordered it. Verso Card initially did not inform users that their password would be required to use the card when ordering, but the order form has since been updated to include a noticeable disclaimer. One problem with this method, however, is that there is no option to change your password; doing so would end up changing the private key QR code. This could be disastrous to some forgetful users, myself included. The password is useful in some cases. For example, if you lose your phone, an attacker will be required to scan the encrypted private key on your Verso Card in order to use the App or send bitcoin. It's a unique form of 2-factor authentication.