The most important attribute Ballet wallets and non-custodial software wallets have in common is that they both give the user full and exclusive control of cryptocurrency private keys. It would not be right to make a general statement that Ballet wallets are superior to software wallets or vice versa, because they have different use cases and target users. Ballet wallets are designed to be the easiest cryptocurrency wallet for beginner users, while software wallets require more knowledge and experience to use safely. Ballet wallets are optimized for long-term cold storage and gift giving, while software wallets are better for use as a hot wallet for frequent transactions. Here are some reasons why Ballet wallets are the best product for beginners:
- Ballet wallets require no computer setup and are ready to use right out of the box. Software wallets have a tedious setup process that involves setting a PIN number or password and writing down and verifying a 12-word or 24-word recovery seed phrase.
- Ballet wallet users can deposit coins to their wallet without using the Ballet Crypto app; just scan the primary coin address on the physical wallet. Hardware wallets require users to connect the device to a computer in order to get a deposit address.
- Software wallet private keys are stored on the mobile device or computer; if an attacker gains access, coins in the wallet can be stolen. Ballet wallet private keys are never stored on the mobile app; they are permanently offline, stored on the non-electronic Ballet wallet itself, and nowhere else.
- Software wallet seed phrase backups are additional attack vectors. Since Ballet wallets are bearer assets, users only need to worry about the physical security of one item.
- Ballet wallets never require software updates. A software update is a potential opportunity for an attacker to insert malicious code to steal coins from the wallet, or for an unintentional bug to cause a permanent loss of coins.
- A Ballet wallet is the perfect way to give cryptocurrency as a gift to new users. The recipient does not need to take any time to install an app and learn how to use it. They can just hold the Ball wallet for years as the coins stored on it appreciates in value.