Elysium being a "non-custodial software cold wallet" means that:
In essence, Elysium combines the best of both worlds: ultimate control over your assets and security through offline key storage, along with ease of use.
At Elysium Lab we want to revolutionize the way you interact with digital assets by being the first truly keyless, self-custody and cold software wallet, designed for everyday activities like payments in the Bitcoin and stablecoin space. It aims to accelerate the global adoption of Bitcoin and Stablecoin giving people a plan B from the actual financial system. Our innovative multi-factor algorithm transforms self-custody, allowing you to manage and trade assets easily and with high security. We combine advanced security with a user-friendly experience, ensuring you retain full ownership of your assets. Think of us as a neo-bank for the blockchain era, offering seamless, on-chain, peer-to-peer transactions.
Elysium Wallet is available for iOS and Android devices. Visit Elysium Lab, click the download button to get started, or download it directly from the Apple Store and Google Play!
To set up your wallet:
Read the full article: "How to Get Started with Elysium’s Keyless Multi-Factor Algorithm"
Elysium Wallet is unique for its keyless technology. Unlike traditional wallets that store private keys on your device or are exposed to the internet, Elysium generates and uses keys dynamically for each transaction, enhancing security by minimizing key theft risks. It integrates multi-factor authentication for additional protection and supports blockchain networks such as Bitcoin and Polygon and tokens, BTC, MATIC, USDT, USDC and DAI. Our user-friendly interface simplifies digital asset management, making it easier and safer to handle your cryptocurrencies.
Read the full article: https://www.elysiumlab.io/blog/a-new-approach-to-wallet-security-elysiums-keyless-system-vs-traditional-seed-phrases
At the moment, the app is accessible only in supported countries. Stay updated by following our channels—we’ll announce expansions as new regions are added.
Currently, Elysium is available in the following countries for both iOS and Android:
Yes, we are actively working on expanding our geographical reach. This involves addressing regulatory challenges and enhancing global scalability to make Elysium accessible worldwide.
Yes, Elysium supports these standards to ensure maximum compatibility with other wallets, the security of your funds and to stay up-to-date with Bitcoin standards.
We will expand with additional notifications in future versions; for now, they are limited to new contacts and sent transactions.
Elysium combines an intuitive user interface with robust security protocols, offering a simple yet secure experience. Onboard with our Multi-Factor algorithm, eliminating the need for storing keys.
Upcoming developments include:
No, Elysium is not an open-source wallet. We will release the code from Q1/Q2 2025 as soon as we manage the patent for our technology.
No, Elysium is currently only available as a mobile application.
Elysium does not manage fiat currencies directly. However, you can use your card or bank account for onramp and offramp transactions, and seamlessly view and manage these transactions through the wallet.
Elysium Wallet supports the following blockchain networks and tokens:
To send a transaction:
Read the full article: https://www.elysiumlab.io/blog/article-4-how-to-send-a-transaction-with-elysium-wallet
To receive transactions:
Or if you already have the contact:
Read the full article: https://www.elysiumlab.io/blog/how-to-request-a-transaction-with-elysium-wallet
Although Elysium does not handle fiat currencies directly, you can link your credit card or bank account to buy Bitcoin and other cryptocurrencies through our third-party partners integrated into the app. Elysium offers onramp and off-ramp services through providers, that are Onramper and MoonPay.
Navigate to the buy option within the home page of the app to purchase digital assets.
Read the full article: https://www.elysiumlab.io/blog/how-to-buy-bitcoin-and-other-digital-assets-using-elysium-wallet
Elysium Wallet sponsors the network fees for transactions on the Polygon network, making it cost-effective for users. However, transactions on Bitcoin and the Lightning Network do incur their respective network fees.
For onramp and offramp services, there are the providers’ fees of approximately 1%.
Currently, Elysium does not apply any additional fees
If you encounter problems with a transaction, first check the status on the related blockchain. If the problem persists, contact our support team within the app or on our website.
Read the full article: https://www.elysiumlab.io/blog/how-to-reach-support-on-elysium-wallet
While this feature is not currently available, it is under consideration to further enhance accessibility and usability. Features like swap and bridge integrations are planned.
Elysium uses a proprietary algorithm that allows the wallet to recreate keys for signing transactions without storing them on the device. This ensures your keys are never exposed or stored, enhancing security.
When we say Elysium is "keyless," we mean that our wallet doesn't store or manage private keys in the traditional sense. Instead, Elysium uses a unique approach to handle key management securely:
- No Key Storage: Unlike traditional wallets that store private keys on the device, Elysium generates and uses keys on-demand for each transaction. This means your private keys are never saved or exposed.
- Dynamic Key Creation: Elysium’s system creates a key for each transaction as needed. Once the transaction is completed, the key is discarded. This minimizes the risk of key theft or loss.
- Enhanced Security: By not storing keys, Elysium reduces the risk of your keys being compromised through device theft, hacking, or malware.
- Multi-Factor Authentication: Elysium uses multi-factor authentication (MFA) to ensure secure access to your wallet. This adds layers of security beyond just key management, such as biometric verification or passcodes/words.
In essence, Elysium’s keyless approach simplifies the management of digital assets and enhances security by eliminating the need to store or handle private keys directly.
Multi-factor authentication (MFA) is a security process that requires users to provide multiple forms of verification before accessing an account or performing a transaction. This can include something you know (password or passcode) and something you have or are (passkey). Elysium Wallet uses MFA to ensure the highest level of security for your digital assets.
In the Hub page, go to settings, click on "enhance security," and add an additional factor of authentication, either a password or passcode. Currently, Elysium Wallet provides you with the possibility to have three factors of authentication and, so security.
Elysium Wallet uses multiple authentication factors to ensure security. If you forget one factor, you can usually recover access using the remaining factors. Some factors we require you to access to your wallet are impossible to lose or forget, like passkeys - where the username and the credentials are stored into your iCloud service - that is why you are the key!
If you lose your phone, our adaptive and smart recovery algorithm ensures you can regain access without needing a seed phrase or interaction with cryptographic keys.
You can initiate the restore process within the Elysium app, which will require you to know 2 out of 3 authentication factors (one of which must be the passkey). This method enhances both security and accessibility, offering a seamless recovery experience.
Reminder: Elysium does not store any sensitive information on its infrastructure.
No, Elysium is designed to provide flexibility for users who prefer not to undergo the KYC process,In the future, depending on how regulations evolve, we will adapt as needed. However, Elysium is committed to maintaining the highest level of user privacy.
We manage it following the principles and standards of the FIDO2 organization.
https://fidoalliance.org/fido2/
Our algorithm generates private keys on demand whenever the user needs to send a transaction or modify authentication factors. Eliminating the need to store sensitive data and enhancing security.
We follow data protection rules including GDPR and Swiss Federal Act on Data Protection (FADP).
Elysium is a Swiss company that comply with applicable regulations in force.
