Hello! There, welcome to our Ballet Crypto Wallet review.
In this article, we will be looking at what Ballet is, the features of the Ballet wallet, its advantages and disadvantages, and see if it could be the right multi-cryptocurrency hardware wallet for you.
One thing every cryptocurrency investor cannot do without is a wallet – a secure and simple place to store and spend your crypto assets peacefully.
And the exciting thing is that there’s no shortage of cryptocurrency wallets.
From web wallets to mobile, desktop, paper, hardware, and brain wallets. Hundreds of cryptocurrency wallets are available for you to use to store and spend your crypto assets today.
However, not every cryptocurrency wallet you can find there may be good for you.
Depending on your unique requirements and the volume of crypto assets involved, in most cases, hardware wallets are considered the most secure way to store your crypto assets.
One of the new players in the multi-cryptocurrency hardware wallets is Ballet.
What is Ballet Crypto Wallet?
Ballet crypto wallet is the world’s first multi-cryptocurrency hardware wallet that provides 100% cold storage for your crypto assets.
The Company is based in Las Vegas, Nevada, and was founded in early 2019 by one of the earliest blockchain and cryptocurrency investors – Bobby Lee.
Ballet’s primary aim is to develop a simple and elegant crypto hardware wallet that even people completely new to cryptocurrencies will find easy to use.
Thus effectively facilitating cryptocurrency mass adoption by making it simple and easy for everyone and anyone to transact with and store their crypto assets securely, with its fully pre-setup and ready-to-use hardware wallet.
If you’re a video person or want to hear from Bobby, check out this Ballet Wallet intro video below.
How Does Ballet Crypto Wallet Work?
Simple! Or is it?
According to their official website, the Ballet Crypto Wallet uses an industry-first 2-factor key generation manufacturing process for its non-electronic physical cryptocurrency wallet.
- This process begins in the Ballet headquarters in the United States, where each wallet’s serial number, passphrase, and intermediate code are generated and sent to the Company’s China office.
- From there, an encrypted private key (EPK) is securely generated using the open-source BIP38 protocol and data from the intermediate code above.
- Using an offline and secure printing facility in China, the two-layer QR code sticker is manufactured and attached to the corresponding physical wallets without revealing the EPK and sent back to the United States for verification and final coupling.
- At the headquarters, the physical wallets and QR code stickers are verified and matched according to their corresponding serial number.
- Finally, the wallet passphrase is covered with a tamper-evident scratch-off material to protect it, and it is ready for shipping to a proud owner.
And that’s the simplified version of the manufacturing process. Click or tap here for details and the specific step-by-step manufacturing process.
Once you have ordered your Ballet Crypto Wallet from the Ballet store and delivered it to your doorstep, you will need to start receiving and sending your crypto assets.
Receiving funds to your Ballet Wallet
All you need to receive funds in your wallet is the notoriously visible public wallet address just below the QR code on the physical wallet.
All anyone sending you funds needs to do is scan the QR code to capture the address, and the funds will drop into your Ballet Wallet.
It’s as easy and simple as that – no long registration procedure, passwords, or copying and pasting wallet addresses around.
Sending funds from your Ballet Wallet
Sending funds from your Ballet Wallet requires the encrypted private key (EPK) and the corresponding passphrase engraved in straightforward physical walllengthytself.
To reveal these two, all you need to do is:
- Scratch off the protective covering to reveal the passphrase and
- Remove the overlaying QR code sticker to reveal the EPK
Once you’ve done the above,
- Download and install the Ballet Wallet mobile App or any other BIP 38 wallet software from your device’s app store to decrypt or extract the private key information and use it to securely start signing transactions and spending funds stored in your Ballet wallet.
Features of Ballet Crypto Wallet
The Ballet crypto wallet is a one-of-a-kind hardware wallet with unique features.
Each of their wallet product categories mentioned below has its unique features, but below are the general features of a Ballet Wallet:
- Ballet Wallets are mostly bearer assets. Meaning that whoever has the wallet owns it. Similar to whoever holds a physical dollar bill or an ounce of gold is the owner.
- The wallet uses a non-proprietary, two-factor private key algorithm known as BIP38.
- Ballet secures the wallet using the open-source, two-factor key generation (2FKG) pr, which means Wallets come with a tamper-evident holographic sticker and scratch-off strip.
- Ballet Wallets are non-electronic. Making it practically impossible for any electronic hacking and hardware failure.
- Uses Bitcoin primary account and natively uses the Segwit bech32 wallet address (“bc1” prefix)
- Ballet is a multi-cryptocurrency hardware wallet supporting over 60 top coins and all Ethereum ERCThey makings.
- They are designed and manufactured for the non-technical masses in mind.
- Secure with the highest level of cryptocurrency wallet security.
Cryptocurrencies Supported by the Ballet Wallet
As of the time of writing this line (08/08/20, 11:22 am UTC), the Ballet crypto wallet supports over 60 cryptocurrencies, and more are added regularly.
Below is the complete list of all cryptocurrencies currently supported by the Ballet crypto wallet:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP (XRP)
- Tether (USDT)
- Tether (USDT)ERC20
- Bitcoin Cash (BCH)
- Bitcoin SV (BSV)
- Litecoin (LTC)
- Binance Coin (BNB)
- Chainlink (LINK)ERC20
- UNUS SED LEO (LEO)ERC20
- USD Coin (USDC)ERC20
- Huobi Token (HT)ERC20
- Ethereum Classic (ETC)
- Dash (DASH)
- Zcash (ZEC)
- Cosmos (ATOM)
- Maker (MKR)ERC20
- HedgeTrade (HEDG)ERC20
- Dogecoin (DOGE)
- Aave (LEND)ERC20
- Basic Attention Token (BAT)ERC20
- Dai (DAI)ERC20
- OKB (OKB)ERC20
- Synthetix Network Token (SNX)ERC20
- Kyber Network (KNC)ERC20
- 0x (ZRX)ERC20
- Paxos Standard (PAX)ERC20
- Qtum (QTUM)
- OmiseGO (OMG)ERC20
- Augur (REP)ERC20
- TrueUSD (TUSD)ERC20
- Bitcoin Gold (BTG)
- Bitcoin Diamond (BCD)
- Enjin Coin (ENJ)ERC20
- Ravencoin (RVN)
- Ren (REN)ERC20
- Nexo (NEXO)ERC20
- Swipe (SXP)ERC20
- ZB Token (ZB)ERC20
- Quant (QNT)ERC20
- iExec RLC (RLC)ERC20
- Status (SNT)ERC20
- Matic Network (MATIC)ERC20
- Chiliz (CHZ)ERC20
- Decentraland (MANA)ERC20
- MCO (MCO)ERC20
- KuCoin Shares (KCS)ERC20
- Golem (GNT)ERC20
- Numeraire (NMR)ERC20
- Pundi X (NPXS)ERC20
- SOLVE (SOLVE)ERC20
- STASIS EURO (EURS)ERC20
- Storj (STORJ)ERC20
- Molecular Future (MOF)ERC20
- Streamr (DATA)ERC20
- Crypterium (CRPT)ERC20
- Ripio Credit Network (RCN)ERC20
- Loom Network (LOOM)ERC20
- Centrality (CENNZ)ERC20
- Enigma (ENG)ERC20
- Civic (CVC)ERC20
- Tierion (TNT)ERC20
Advantages of Ballet Wallet Crypto Wallet
- No setup, KYC, or any form of registration is required; buy the wallet and start receiving and sending cryptocurrencies easily and immediately, as the Company has already securely pre-generated the wallet’s private keys for product simplicity.
- No geographic or demographic limitations exist on who can own and use the Ballet crypto wallet. The wallet is fully accessible to anyone and everyone interested in storing quicklyansacting with crypto securely.
- You don’t need to remember login passwords, passphrases, or PIN codes. The wallet is a use-as-is device that does not require any setup or registration.
- Ballet crypto wallet offers 100% offline, cold storage of precious crypto assets Thu, effectively making it hack-proof. The wallet never connects to the internet. As such, the risk of hacking or becoming a victim of a phishing attempt is practically zero.
- Ballet has no artificially imposed deposit and withdrawal limits as a cold storage, private, and non-custodial wallet. You can receive and send any amount into and from your wallet without restrictions.
- You maintain 100% custody of your funds as long as you still have your device. No, you trust any third parties, Companies, or individuals to secure your money. Your money, your wallet, your custody.
- Ballet is cheaper and more budget-friendly than other crypto hardware wallets while providing greater security and convenience.
- The ballet wallet is water-proof phy,sically durable, and easy to carry around.
Disadvantages of Ballet Crypto Wallet
- Ballet Wallets, especially the REAL Series, are bearer assets. This means that if you lose your Ballet wallet, there is no way to recover the funds stored on it. Whoever has physical possession of the wallet is the “owner,” and they will have full access to its funds. Therefore, you must keep it safe, like cash or gold. If you lose it, that’s too bad; your funds are gone for good.
- As with every hardware crypto wallet, loss of the physical device for any reason or physical damage may mean the complete loss of your funds.
- Hardware wallets are natively not convenient for daily, more frequent cryptocurrency transactions but for long-term storage.
- The shipping time ranges from 3 to 14 days, depending on your location. Customs can seize the wallet if your country does not support cryptocurrencies. Also, if you require a wallet urgently, obtaining a ballet hardware wallet is not as easy as downloading a simple mobile or desktop wallet from your app store or online instantly.
- Ballet Wallets comes with a single deposit address. Anyone who knows your wallet address can see all your past, present, and future transactions.
- As much as I want to believe that the Company does not have a copy of the pre-generated private keys to the wallets, there’s no way to prove that reliably. So that may be a concern for ex-scam theorists, but given who the founder is – Bobby Lee – it’s unlikely Ballet is a scripted exit-scam play.
How Much Does a Ballet Wallet Cost?
Ballet currently maintains 4 different product categories:
All with different prices as highlighted, and can be easily found on the respective product pages by clicking the links above.
You can quickly pay for your orders using Bifourcoin, PayPal, or Venmo –whichever is more convenient.
Ballet is one of the new but exciting players in the cryptocurrency hardware wallet market. It has secured over 21 million worth of crypto assets for its customers in less than two years of existence as of August 2020.
The Company describes itself as the “world’s FIRST non-electronic physical multicurrency wallet,” offering “100% offline cold storage”.
Bobby Lee, the founder, is so confident of the wallet’s security that he’s put at stake two complete Bitcoin bounties worth over $21 000 for anyone who can hack a Ballet Wallet.
Ballet’s primary aim is to make it easy and simple for everyday people – without technical knowledge – to interact with cryptocurrencies, thus effectively facilitating crypto mass adoption.
However, whether you should buy Ballet is a decision you must make yourself, considering all the information provided here and on their official website.
One sure thing is that as a new company, Ballet has not enjoyed the market trust that will put it shoulder-to-shoulder with the other big hardware wallet manufacturers such as Trezor, Ledger, and KeepKey.
If you find it interesting to play with, you might as well begin storing just a small amount first and increase your holdings on Ballet as the Company grows and becomes more reliable.
Also encouraging is the fact the founder is a renowned and well-respected member of the crypto community, so this project is far less likely to be a scam.
What do you think about the new Ballet multi-cryptocurrency hardware wallet? What has been your experience using Ballet so far? Share with us in the comments section below.
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