Difficulties with existing mobile non-custody wallets:
- Complicated setup process
- Complicated backup procedures, prone to severe failure resulting in complete loss of funds
- Potential fund losses due to forgotten passwords and private keys
- Possible bricking issues and difficulties with firmware, software upgrades
- Prone to phishing and hacking
The current existing mobile non-custody wallets are 100% online, digital wallets, the use of their app is a necessity in order to receive, send and store your crypto assets. Whereas Ballet cryptocurrency wallet is a physical wallet, the use of Ballet Crypto mobile app is entirely optional, as you don’t need it to receive and add funds to your Ballet wallet. Ballet is also 100% offline cold storage, there is no risk of hacking.