To reveal or not to reveal?
Deciding when to reveal the private key components is a decision that can depend on a number of factors. Longevity, financial needs, crypto needs, and etc. can all play an important role in the decision especially when you are just working with one Ballet wallet. But it’s not to say you can use multiple to split up your needs. But regardless, many users may or may not be hesitant in revealing the private key components. Because after all, keeping the raw private key uninstantiated may relieve user’s private key concerns.
Let’s dive a bit deeper into what makes up the private key components.
The private key components consist of the passphrase entropy and the private key entropy. The passphrase entropy is located along the bottom border of the face of the wallet, but underneath a scratch-off material placed on during production. The private key entropy is located underneath the top QR code sticker in a two-layered QR code sticker setup. This two-layered QR code sticker will leave off a honey-comb pattern on the bottom layer, indicating that the bottom layer has been revealed.
REAL Series wallets have strong anti-counterfeiting measures. The top and bottom stickers have print that is only visible when exposed to ultraviolet light. The QR code on the top sticker is also coated with a substance that releases a sweet fragrance when scratched. This is the genuine Ballet scent.
By not revealing the private key components, you can be assured that the raw private key has never been instantiated or revealed. But by revealing the private key components, by scratching off the scratch-off and lifting the top layer QR code, you allow the private key components to be revealed and the raw private key to be instantiated when you combine both during a transaction. There is nothing wrong with the latter as using the private key is necessary for your crypto needs.
But for those who may want to leave the private key components separated, you are more than welcome to until you actually need to make a transaction. Using the Ballet wallet for long term cold storage is one of its biggest advantages compared to other wallets. You don’t need to worry about electronic updates or secret PIN codes. On top of that, you can periodically deposit crypto onto the wallet without revealing the private key components giving you peace of mind.
Outline below are the advantages of revealing or not revealing the private key components:
Keeping the private key component unrevealed:
- Assurance that the private key components have never been revealed nor instantiated.
- Can be sure that no one else had the opportunity to steal your private key components.
- Suitable for long term cold storage of your crypto.
Revealing the private key:
- Allows you to make transactions with the wallet.
- Suitable for designating that wallet as your daily crypto wallet.
- Allows you to make a physical copy of the private key components.
So determining on whether or not to reveal the private key components is going to come down to your own personal circumstances. The following are some questions to think about when decided:
- Will you be using the Ballet wallet for long term or short term needs?
- Do you have other Ballet wallets to use for other crypto needs?
- Do you have reliable, safe locations to store the Ballet wallets?
- Are you going to be carrying a wallet on you when going out?
- Do you want to make a physical copy of the wallet?
Only by understanding your personal crypto needs will you be able to make a sound decision on whether or not to reveal the private key components on your Ballet wallets.
Ballet is a U.S. company that provides simple and secure cryptocurrency storage solutions for the global mainstream market. Ballet is the team behind the world’s first multi-currency, non-electronic, physical crypto wallet. The company was founded in 2019 by Bobby Lee and an international team of cryptocurrency industry veterans. Ballet is headquartered in Las Vegas, Nevada in the United States, and has an office in Shanghai, China.
For more on our products please check us out at: https://www.ballet.com/
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