Cryptocurrency wallets do not actually store cryptocurrency. They store cryptographic private keys, which allow the owner to transfer cryptocurrency on the blockchain to a new address. So when we talk about ownership of cryptocurrency, we are actually referring to control of private keys. A private key is simply a long sequence of random letters and numbers, like a very strong password. Letters and numbers can be written in electronic and non-electronic form. Typical software and hardware wallets store private keys in electronic form on a device with electronic components. Ballet wallets store private keys in two-factor physical form; the private key entropy is printed on a robust waterproof sticker and the passphrase entropy is laser-etched in steel. Ballet’s unique non-electronic design provides all the standard functions of every other cryptocurrency wallet, but with greater physical durability and resilience than any electronic device.
Articles in this section
- What is a “chip attack” and are Ballet Cold Storage Cards vulnerable?
- #What’s the difference between Ballet Cold Storage and non-custodial software wallets?
- #Why is it better to store cryptocurrency on a Ballet wallet rather than a custodial service such as an exchange or custodial wallet?
- #What's the difference between Ballet wallets and traditional paper wallets like bitaddress.org?
- #What’s the difference between Ballet wallets (non-electronic bearer assets) and wallets like OpenDime and Tangem (electronic bearer assets)?
- #How does Ballet ensure that there are no defects in the manufacturing process?
- #How is it possible to generate a private key entropy without knowing the passphrase entropy needed to decrypt it?
- #How do you verify that each Ballet wallet’s private key entropy can be decrypted by the passphrase entropy before selling wallets to the public?
- #How are Ballet passphrase entropy and private key entropy are matched correctly during the manufacturing process?
- #How is it possible to store cryptocurrency on a non-electronic device such as a Ballet wallet?