Ballet Unveils Non-Electronic Cryptocurrency Wallet Designed to Improve Crypto-Adoption
LAS VEGAS, NV / ACCESSWIRE / November 17, 2022 / Ballet, the cryptocurrency storage solutions provider, has launched its REAL Series cryptocurrency wallet. In doing so, the Nevada-based firm hopes to make managing cryptocurrencies easier, and to in turn open up the space for more casual, mainstream investors.
Given the speed of the emergence of cryptocurrencies and blockchain technology, many have struggled to keep up with the various technological advances that have arisen as a result. A 2021 study highlighted that 96% of Americans still could not pass a basic cryptocurrency literacy test. In the same year, it was estimated that over 59 million Americans owned some form of cryptocurrency.
This figure looks set to continue increasing year-on-year. With more people investing in cryptocurrencies, despite not grasping the intricacies of it, this can leave investors vulnerable to losses due to misunderstandings and blindspots. Ballet is setting out to help investors to safely manage their crypto-portfolios, without having to learn the various subtleties of blockchain and private key technology.
Founded by long-time crypto-advocate and investor, Bobby Lee, Ballet is positioning its flagship REAL Series cryptocurrency wallet as a storage solution for the mainstream market. "We've found that the existing range of software and hardware wallets are often too complicated for general use. This deters people from getting involved in the fast-growing world of cryptocurrency, or even worse, they make mistakes causing loss of funds. Our REAL Series wallet aims to solve this," Lee underlines.
This wallet, with its patented non-electronic design, offers a simplified user experience and removes the need for any setting-up process. As a cold storage wallet, it is disconnected from the internet and is therefore more effectively protected from the threat of hacking. Ballet hopes this can offer assurance to users in light of the fact that, in 2021, around $4 billion worth of cryptocurrencies was stolen.
As of February last year, there were over 68 million blockchain wallet users, a stark rise since the mere 3 million users recorded in 2015. Hardware wallets are becoming increasingly popular due to the enhanced security they offer, with the global market for cryptocurrency hardware wallets being projected to exceed $1220 million by 2027. However, with many of these requiring a complex set-up, monthly fees and regular maintenance, Ballet is introducing its REAL Series wallet as an option that avoids all of these common investment obstacles.
A key feature of Ballet's wallet is its two-factor private keys feature, which again bolsters the storage system's hacking defense, while also reducing the risk of user errors. Its encryption and decryption algorithms ensure that funds are both fully secure and freely accessible for the owner at all times. In addition to this, Ballet's companion app, with its user-friendly interface, streamlines the process of swapping and trading cryptocurrencies.
Hardware wallets are considered by experts in the field to be the safest option for cryptocurrency investors, but are also widely seen as being difficult to use and manage for beginners. Through its REAL Series cryptocurrency wallet, Ballet is striving to open up the safety and security of hardware wallets to more investors by untangling the complexities that are involved in other models.
Name: Robert Kuhne
SOURCE: Ballet Crypto
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