OpenDime is a new type of bitcoin wallet, described as a disposable hardware wallet by it’s makers.
OpenDime, which is created by the same group that made the now defunct Coinkite wallet, is a simple USB flash drive where users can load and store their bitcoin securely. The device is portable, just like cash.
The private key is generated inside the OpenDime device, and is never known to anyone until the seal is broken on the device. You can use a physical dime to break the seal on the device to get the private key, hence the name OpenDime.
Another analogy that is used is that it’s like a piggy-bank. You must destroy it to spend the funds. At first that seems like it may be expensive and wasteful, but it’s a integral part of the OpenDime security model: you can trust a sealed Opendime, and it’s obvious when it’s been opened.
In this video below, it gives a quick demonstration of how OpenDime bitcoin wallet works. Check it out!