Bobby Lee. Source: Twitter, @bobbyclee

Bobby Lee, co-founder and former CEO of one of the world’s first Bitcoin exchanges, BTCC, known as a pioneer in the Cryptoland, came out with his new project – a crypto wallet, dubbed Ballet, or the REAL Series.

Lee, who’s also the brother of Litecoin’s creator Charlie Lee, announced his new startup Ballet, after teasing people online about his new product. He revealed the new hardware wallet, which supports multiple currencies. “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,” Lee said.

So let’s take a closer look at the new wallet.

Source: Twitter, @bobbyclee

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Source: Twitter, @bobbyclee

This product, resembling a metal credit card placed in an acrylic box, and weighing 35g, is described as a non-electronic hardware cryptocurrency wallet, with the support for multiple currencies and a 100% offline cold storage. No additional hardware devices are needed, and it doesn’t have computer chips of any electronic circuitry in order to maximize durability and minimize or avoid issues such as component failures, upgrades, zero-day security breaches, hardware compatibility issues, etc. No passwords, KYC (know your customer), or setup is needed, the website says.

What you’ll see on the card is your chosen primary crypto, a serial number, tamper-evident QR code sticker that protects a user’s encrypted private key as long it’s intact, UV light-visible markings, and the wallet passphrase scratch-off. Different primary coin option enables direct deposits, says Ballet. You can choose between Bitcoin, Litecoin, Ethereum, and Ripple as your primary coin. Besides these four, the wallet also supports: BCH, USDT, USDC, BSV, LEO, LINK, MKR, DAI, HT, BGT, and BCD.

The assets are protected with the encrypted private key and the wallet passphrase, both of which are engraved on the wallet itself, and both are needed to actually see the private key via the accompanying and optional Ballet Crypto – an Android and iOS app. To generate private keys and make the wallets, the company says it's the first to use the 2-Factor Key Generation (2FKG) process, whereby the passphrase and the private key are generated offline at printing facilities in China and the U.S. There’s no need to remember PIN codes, recovery seeds or passphrases, the company says, and “forgotten password or PIN will NOT result in the loss of the funds in your Ballet cryptocurrency wallet.”

Ballet Crypto app:

Source: play.google.com

Beta program is currently ongoing, allowing people to apply and try the wallet and its app for free if chosen. The wallet is also available for pre-order now, being priced between USD 29.95 and USD 99, depending on the primary coin, the number of cards, and the edition. Also depending on the issue, the wallets should be shipped in October and November this year.

The interest seems to be raised and people are already asking questions about the wallet, with some wondering what the difference between this and other projects is.

Three new innovations:

1) deposit address on front: no-setup, allowing for instant deposits

2) multicurrency support: $ETH, $LTC, $XRP, $USDT, #ERC20, and many others

2) not loaded with coin: Not transmitting money, no regulation risk, no issues with shipping or customs duty. — Bobby Lee - Ballet: Simple & Elegant Wallet (@bobbyclee) September 12, 2019

That’ll be for a different high end version. — Bobby Lee - Ballet: Simple & Elegant Wallet (@bobbyclee) September 12, 2019

Also, check out these alternative hardware wallets we’ve written about recently. Two of them - CoolWalet S and Card Wallet - are also card-sized hardware wallets.

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Read more: This Austrian Printing House Aims For 'Major Role' in Crypto Adoption