Market Overview

Crypto Wallet Company Ballet Announces $21 million in Customer Deposits a Year After Launch

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LAS VEGAS, July 29, 2020 /PRNewswire-PRWeb/ -- Ballet—the new physical wallet startup by the founder of China's first bitcoin exchange Bobby Lee—today announced it had reached a milestone $21 million in customer deposits.

"We are excited about this milestone of $21 million in cryptocurrency being stored on Ballet wallets by our loyal customers worldwide," Lee, who is Ballet's founder and CEO, said. "It's great to see more and more people starting to trust Ballet as an easy, safe, and reliable cryptocurrency wallet. It's the cryptocurrency wallet for the rest of us."

Ballet was founded in March 2019 to provide simpler alternatives to the hardware wallets currently on the market that are suitable for the average consumer.

Ballet's physical wallets are credit card-shaped and made of stainless-steel. Similar to physical bitcoins, private keys and addresses are pre-generated for the customer to make managing and storing cryptocurrencies easier, while ensuring high security through the use of two-factor private keys.

Lee also highlighted the functionality of the Ballet wallet companion app, available on iOS and Android, which allows users to view and manage the cryptocurrencies on their wallets. The app recently introduced a function that allows users to exchange cryptocurrencies within the app and will soon allow users to buy cryptocurrencies in the app.

Lee said Ballet has found success as the continuation to BTCC Mint, BTCC's physical bitcoin brand, which, over its three years of business, sold physical bitcoins worth more than $88 million dollars in today's prices.

Ballet raised more than $3 million in seed round financing in 2019 led by Ribbit Capital—a prominent Silicon Valley venture capital firm that has invested in Coinbase, Revolut, Robinhood, Xapo, and many other early stage fintech companies.

About Ballet:

Ballet provides simple and elegant cryptocurrency solutions backed up by robust and cutting-edge technology. The firm was founded by a team of experienced cryptocurrency experts from Asia, Europe, and the U.S.A, including Bobby Lee, the founder of China's first cryptocurrency exchange. The company aims to boost cryptocurrency adoption to billions of users through intuitive, cutting-edge physical wallet solutions. Ballet's innovative physical wallets are a one-stop solution for managing multiple cryptocurrencies on the go, in the form of a physical bearer asset. Ballet wallets are made through an innovative and secure multinational assembly process, in which private key components are generated in a two-step process on two different continents, ensuring safety and peace of mind for all its customers.

About Ballet REAL Wallets:

Ballet's first product series is called REAL. REAL wallets give users full and permanent control of their cryptocurrency private keys, always allowing them access to their funds regardless of changes in wallet technology. REAL wallets are credit card-shaped and made of stainless-steel. The wallets allow users to store and access their cryptocurrency safely on the go. REAL wallets can also be used immediately, without any setup or complicated account registrations. They also support multiple cryptocurrencies such as bitcoin, ethereum, litecoin, XRP, and many others on a single wallet. Ballet products are accompanied by a free smartphone application that allows users to view and manage their assets. The wallet supports many popular cryptocurrencies, which are all stored on the same physical wallet using the same private key data. Ballet wallets are made using a secure multinational manufacturing process, in which two separate private key components are generated in a two-step process on two different continents. This wallet security feature ensures no Ballet employee ever can gain access to both pieces of the private key necessary for decrypting and accessing funds stored on Ballet wallets. The company also does not retain any of the private key data, giving users true security for their cryptocurrency assets.

 

SOURCE Ballet Crypto

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