BTCC co-founder Bobby Lee, who stepped down as CEO of the exchange, founded Ballet, a company that will produce hardware wallets.
A special feature of Ballet devices is that wallets will generate public addresses and private keys for users in advance. Lee believes that this will attract users who are not familiar with the cryptocurrency field, and make handling the wallet much easier.
“We wanted to create a simple and elegant wallet. And we did it,” Lee said at the CoinDesk Invest: Asia event in Singapore.
Each wallet will be delivered with a QR code that encrypts the public address. QR codes and private keys are generated in two locations “thousands of miles apart”.
code will be printed under the layer that the user needs to remove. After that, the user will be able to access the private key using the mobile app.
“I’ve been working on the wallet since January of this year. During the development process, we created six devices before we came to this design,” said the Ballet founder.
Another advantage of the wallet will be the price – only $29 per device, which is lower than the cost of other existing hardware wallets. Pre-orders are currently being collected. Deliveries of the Ballet devices are due to start in October.
Recall that China’s leading cryptocurrency exchange BTCC was sold to an unnamed Hong Kong investment Fund in early 2018.