The startup develops physical cryptocurrency wallets that utilize a patented two-factor key-generation process based on the BIP38 protocol, ensuring secure storage and management of digital assets. Their mobile application enables users to send cryptocurrency, monitor market values, and activate additional currencies, providing a reliable method for tracking asset performance in cold storage.
Funding
Funding not disclosed
Founders
Product
Problem
Storing cryptocurrency on exchanges or software wallets carries the risk of hacking, theft, and loss of private keys, while traditional hardware wallets can be complex and require specialized knowledge. This leaves many potential users hesitant to enter the crypto space due to security concerns and usability barriers.
Solution
Ballet provides a physical, multi-currency cold storage solution designed for ease of use and secure, offline storage of digital assets. The Ballet REAL Series wallets are credit card-sized, non-electronic devices that utilize a patented two-factor key generation process based on the BIP38 protocol. Users can receive, store, and send a variety of cryptocurrencies and NFTs by scanning QR codes and using the Ballet Crypto mobile app, which serves as a companion interface. This approach eliminates the need for complex setups, passwords, or seed phrases, making crypto storage accessible to users of all technical skill levels.
Target Audience
The primary target audience includes cryptocurrency beginners seeking a simple and secure storage solution, as well as experienced users looking for a convenient way to manage their digital assets offline.
Features
- Physical cold storage card made of stainless steel, available in standard and 24K gold-plated editions
- Supports over 1,000 cryptocurrencies and NFTs across 24 blockchains
- Patented two-factor key generation (2FKG) process for secure, offline private key creation
- Tamper-evident QR code sticker and scratch-off passphrase entropy to ensure physical security
- Ballet Crypto mobile app for iOS and Android, enabling users to send, receive, buy, and swap crypto
- WalletConnect integration for connecting to dApps and NFT marketplaces
- Ability to store multiple crypto assets on a single card
- No account registration or personal information required for basic cold storage functionality