What does security look like for something like this?

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The satschip works like a tapsigner. Scan the phone and enter the NIP to sign the transaction. Tho the satschip can't be backed up so it's better to only use as a multisig or low amounts of money. My wallets also have an RFID shield to protect the chip when close.

I haven't used any of that stuff yet. Sounds pretty cool.