The rest of the site is filled with a bunch of red flags:
For the private key generation and production of our physical hardware wallets, Ballet adopts an industry-first 2-Factor Key Generation (2FKG) process. To access the funds in your wallet, you would need both the encrypted private key (EPK) and the corresponding wallet passphrase. However, both the EPK and wallet passphrase are engraved on the Ballet cryptocurrency wallet itself. The proven BIP 38 industry standard powers this time-tested and secure technology.
So, the complete opposite of 2 factors, then? If both pieces of information needed to steal your coins are stored on the same medium or can be compromised by stealing the same physical thing or log in, then it's not 2 factors. It's 1 factor. This would be like keeping an encrypted Electrum wallet on a USB stick, along with a text file of the decryption key. There's no point to have two factors if you store them side by side.
During the manufacturing and production process, these two vital components are generated separately, on different devices located in different geographic locations (different countries and jurisdictions, thousands of miles apart). This data is never transferred electronically, and never copied, duplicated, or backed up onto any other storage device. This also means that our employees will never come into contact with all of the necessary cryptographic key information. Thus the capability of others decrypting or stealing funds from the Ballet hardware wallets is eliminated.
Eliminated? I hardly think so. Reduced maybe, but not eliminated by any means. Do your employees not know how to email or message each other?
It is a multinational, double-blind, bifurcated key generation process that ensures the highest safety standards for private key generation and encryption. This is the ultimate level of safety for the complete offline and cold storage of your cryptocurrency assets.
That's great and all, but the design of this wallet is such that to spend the coins you have to rip open the physical card. Therefore, it is essentially single use only. How do you know that the company in question have combined the right public key, private key, and passphrase until it is too late? You can't make a test transaction without destroying the wallet.
I am also generally concerned with their advertising of "No passwords" like that's a good thing. I'm sorry, but I
want passwords. Everyone wants passwords. Everyone has to remember and use multiple passwords and PINs all the time. Why is a password or PIN for a hardware wallet a stumbling block to adoption, when people use passwords or PINs for online banking, credit/debit cards, online shopping, email accounts, even social media.
It's a no from me.
