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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/07\/26\/as-crypto-exchanges-struggle-in-a-bear-market-are-hardware-wallets-about-to-make-a-come-back\/<\/a><\/br> The crypto hardware wallet industry, somewhat eclipsed as crypto exchanges gained in popularity, may be due for a gradual comeback. As some centralized crypto exchanges experienced difficulties in operations while crypto currencies plummeted in value and users clamoured to withdraw funds, this rise in instability may have boosted interest in the \u201ccold wallet\u201d industry. According to a report<\/a>, the global hardware wallet market reportedly reached a value of $252 million in 2021 and is expected to reach a value of $1.1 billion by 2027, or a CAGR of 27.2%. This would suggest it may outpace the reported 12.7% growth rate of crypto exchanges, with a predicted market revenue value of $675 million by 2028. Read into that what you will.<\/p>\n Suffice it to say that into this bear market is launching SF-based Hito<\/a>, which is marketing itself as an \u201ciPod for crypto.\u201d Hito is the size of a credit card, has a large multitouch screen and connects to devices wirelessly.<\/p>\n Hito may be pushing at an increasingly open door. Given two of the primary hardware wallets, Ledger and Trezor, have roughly 5 million users, there would appear to be plenty of room for growth, since there are at least 295 million<\/a> crypto holders who may decide to add hardware wallets to their portfolio.<\/p>\n Hito is priced at $149. This contrasts with \u2014 for example \u2014 the cheaper Ledger NANO S, which comes in at around $65. Hito\u2019s pitch for that extra cost is that transfers can be maid wirelessly using either Bluetooth or NFC, while updates and charging are also wireless. So I guess you are paying to remove the USB connector?<\/p>\n There are other features, however. These include a 2-inch multitouch color screen that displays your crypto assets; support for over 600 digital assets, including Bitcoin, ETH and ERC20 tokens; connections to other wallets such as WalletConnect, MetaMask, Trust Wallet, Argent, Gnosis Safe Multisig; a single system-on-a-chip; support for multiple wallets and pin codes; and shielding from electromagnetic signal readers.<\/p>\n If Hito is as simple to use as it claims to be, it may have a chance in the market, given current conditions. And it\u2019s fair to say many hardware wallets require a lot more technical technical skills than the average person can muster, so any simplification is to be welcomed.<\/p>\n I asked founder Mike Kirillov, CEO and founder of Hito why he thinks Hito has a shot in this current environment: \u201cPrevious hardware crypto wallets have been built for geeks and by geeks. They\u2019re cumbersome, require technical skills, hard to interact with and always cause a feeling you\u2019re about to do something wrong. Ultimately, they weren\u2019t able to become a mainstream solution, meaning the funds of most crypto holders out there aren\u2019t safe,\u201d he said.<\/p>\n Kirillov claims his team spent three years building Hito in stealth mode as \u201ca ubiquitous, easy-to-use device with great UX. It is stylish, intuitive and ultimately protected hardware wallet that can that the mass audience can rely upon,\u201d he claims.<\/p>\n Certainly the more mainstream Crypto becomes, the more crypto fraud and scams are booming, favouring the argument for hardware wallets. Crypto scammers took a record<\/a> $14 billion in 2021 (79% growth YoY).<\/p>\n
\nAs Crypto exchanges struggle in a bear market, are hardware wallets about to make a comeback?<\/br>
\n2023-01-20 22:25:32<\/br><\/p>\n