Cypher Box vs Elara Wallet

Open-source Bitcoin wallet appropriate for beginners who want to gradually reach advanced self-custody. It features a progressive framework that strikes a balance between; security, fees, and UX. Your progression as a user takes four difficulty levels, reflecting your understanding of Bitcoin and the amount of balance you want to secure. The app can be ultra newbie-friendly since it comes with Lightning Network service providers, but as your balance grows, you can transfer your Bitcoin into a more secure environment by creating hot or cold storage vaults. Note: We do NOT custody your funds. Level 1 - absolute beginner: Lightning Account (e.g Strike) - Instant Lightning Network payments with low fees via a custodial or exchange service provider. - Receive small or medium amounts of bitcoin - Threshold-based withdrawals to minimize withdrawal fees and security/counterparty risk. - Seamless withdrawals to self-custodial vaults. (if created) Level 2 - newbie: Lightning Vault (Bark) - Instant noncustodial Lightning payments with low fees. - Receive small or medium amounts of bitcoin - Seamless swap to/from to a custodian(s) or exchange(s). - Lightning capsule refresh reminder to keep balance backed up and under the user’s full control. - Withdraw to hot or cold storage (if created) Level 3 - advanced: Hot or Cold Storage Vault - Generate a 12-word backup - Connect hardware wallet - Receive large to medium amounts of bitcoin (onchain) - Withdraw from Lightning wallets to cold or hot storage - Lightning wallet Top-ups for quick liquidation - Move coins between vaults - Batch, label, and manage coins (coincontrol) Level 4 - power user: Multi-Custodian multi-vault - Diversify funds across multiple Lightning custodians and your self-custodial vaults. - Swap between custodians and non-custodial Bark vault - Manage custodial thresholds to balance risks. Other features: - Interactive bar display to visualize balance in relation to your thresholds - Graphical representation of 'Capsules' or coins (UTXOs) that reflect their size (soon) - Total balance across all checking accounts and vaults Technical specs: - LNURL - SegWit-first - Bip39 - Watch-only vault - PSBT - Private keys never leave your device

# Elara Wallet **Elara** is a premium, non-custodial cryptocurrency wallet built for people who believe financial freedom starts with ownership. Securely manage **Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Interchained (ITC)** from one beautifully designed wallet that keeps your private keys exactly where they belong... on your device. **Not your keys, not your crypto. Your keys, your empire.** ## Key Features ### True Self-Custody Your private keys are generated, encrypted, and stored only on your device. Elara never has access to your wallet, your assets, or your recovery phrase. ### Multi-Chain Support Manage multiple blockchain networks in one place. * Bitcoin (BTC) * Ethereum (ETH) * Binance Coin (BNB) * Interchained (ITC) ### Bank-Grade Security Protect your wallet with modern security features. * 6-digit PIN protection * Face ID and Touch ID authentication * Encrypted BIP39 recovery phrase * Secure local key storage ### Live Portfolio Track your entire portfolio with real-time balances, market prices, 24-hour performance, and total portfolio value. ### Send Crypto with Confidence Quickly send cryptocurrency by scanning a QR code or entering an address manually. Built-in address validation helps reduce mistakes while transparent network fees keep you informed. ### Receive Payments Generate fresh receiving addresses instantly and share them using QR codes or standard wallet addresses. ### Multiple Wallets Create, import, and manage multiple wallets from a single application. Easily switch between personal, business, or testing wallets. ### Watch-Only Wallets Monitor balances and transactions without importing private keys, making it ideal for cold storage, hardware wallets, or public addresses. ## Security You Control Elara is built around a simple principle: you, and only you, control your money. Your recovery phrase is the master key to your wallet. Write it down, store it securely, and never share it with anyone. Because Elara is non-custodial, anyone with access to your recovery phrase can access your funds. If you lose your recovery phrase, it cannot be recovered by Elara. Download Elara today and take control of your digital assets with confidence.