The Person behind China’s first bitcoin exchange, Bobby Lee is back in the Cryptocurrency market with a bang. This time Bobby Lee is launching a cryptocurrency hardware wallet named ‘Ballet’ which will support around 30+ virtual currencies. Bobby
Lee is the brother of Charlie Lee, who is the creator of Litecoin. Bobby also disclosed information about his wallet stating,
“During my 8+ years working on driving global adoption of Bitcoin and cryptocurrency, I have experienced first-hand how frustrating it can be for everyday people to manage their cryptocurrency assets.”
He also shared the picture of the wallet, in the picture the wallet looked like a metal piece that has a size of a credit card and has QR code printed on it. The QR code is related to the virtual currency wallet address that is set up by Lee’s firm. Every wallet has a printed string of encryption code located under the QR code. On the card’s bottom, it has coated string of encrypted code and customers has to scratch it off for seeing it.
The Ballet wallet is providing cold storage for cryptocurrencies including Bitcoin (BTC) and 14 other altcoins such as Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Also, eighteen other cryptocurrencies are in the process of addition.
He revealed this information at the CoinDesk’s Invest Asia Conference which was held on 12 September in Singapore. He is also providing sign up for the users who are interested in the public beta testing program.
The wallet will create private keys for customers and public addresses for users in advance to differ it’s the product from other crypto wallets and also encourages outside cryptocurrency community adoption. Lee said,
“We wanted to create a wallet that is simple and elegant. And that is what we’ve done.”
He also launched the wallets iOS and Android app which will offer users to see their private keys. The key is the same for accessing all virtual currencies on various blockchains that are supported by Ballet. He also revealed the hard work behind the creation,
“I’ve been working on this hard since January of this year.” He added, “We’ve gone through six iterations of this hardware wallet design.”
The people can pre-order the wallet for only $29, which is less than the other wallets existing in the market and it has more advanced cold storage security features. The company will be shipping the product in the month of October. He also started he begun with this project in the previous December and he also raised the amount of capital which is not revealed in the initial round secured by Ribbit Capital. Ballet’s headquarters will be situated in Las Vegas and it will have 20 staffers on a global scale.