Why Ballet’s Physical Bitcoin Service Is A Big Deal
In 3, 5, or 10 years later, the terms “centralized crypto exchanges” might not even be in our vernacular anymore. Its existence will be a dust of memory for today’s crypto OGs. Thinking about the times where we had to hop in our car to drive to a brick & mortar shop, i.e. Blockbuster, just to get our hands on a movie is just mind boggling for Gen Z’ers to fathom as they swipe and tap away on their tablets. It may be early to visualize a time where we won’t be using centralized exchanges, but eventually it’ll happen.
Just take a look at how rapidly things change in the web3 industry:
We used public keys, now we use ENS domain names.
We used notepad files, now we use military grade security USB sticks.
We used no name, underground forums, now we use Twitter.
We HAVE BEEN using centralized exchanges holding our bitcoin on hosted hot wallets, now we have an opportunity to buy bitcoin directly onto a self-custody cold storage.
For the first time ever in this industry, people can now onboard into bitcoin by purchasing directly from Ballet and having it received on self-custody cold storage. This means that people don’t ever have to worry about having their bitcoin (& private keys) being held hostage on an incompetent exchange’s wallet. Centralized exchanges are notorious for eventually failing their user’s trust.
“It’s time we stop receiving our bitcoins in someone else’s hands.” — Anonymous Ballet User
As an ambassador for cold storage and perpetual voice for #NotYourKeysNotYourCrypto, we’ve laid out all the major mishaps that come from centralized exchanges, including hot wallets.
There’s hacks, phishing attacks, exploits, human errors, runaway founders, rogue employees of centralized exchanges, uncovered funds, code inefficiencies, and etc. The truth is repeated every month and gets louder as time goes on.
WE NEED TO STOP RELYING ON CENTRALIZED EXCHANGES TO BUY BITCOIN.
Other alternatives need to sprout in order for this industry to mature. Hitting 1 billion users is still a target that we all want in order to realize financial sovereignty and freedom for the masses. But we’re not there yet, let alone the UX for bitcoin onboarding.
How Ballet’s Physical Bitcoin service solves the onboarding problem:
1. By providing direct fiat-to-bitcoin purchasing solutions at https://bitcoin.ballet.com
- Seamless purchasing experience
- Smoother KYC onboarding process
- Defined bitcoin denominations to choose from
- Familiarity with Ballet’s industry reputation and trustworthiness
- No account registration or password memorization
2. By allowing the receiving of those purchased bitcoins to be delivered on physical self-custody cold storage.
- Insured delivery process
- Literally in YOUR hands
- Instant self-custody upon retrieval
- Safer and reliable
- No 3rd party custody
- Stress free from any potential risks that stem from centralized exchanges
- Ability to directly send to family & friends
The advantageous are laid out crystal clear and should be presented to any newcomer trying to get their first experiences with bitcoin. If one thinks the proper experience of first owning bitcoin is to let someone else hold their bitcoin does NOT understand the ethos of bitcoin. Just imagine what Satoshi would think of that.
“With our new service, we’re offering a fundamentally new way to buy bitcoin that mimics the simplicity and convenience of buying gold and silver coins, while allowing customers to tap into the extraordinary investment potential of bitcoin,” said Ballet founder and CEO Bobby Lee. “We believe this service will make bitcoin accessible to hundreds of millions of new investors, and it will appeal to experienced users as well, as this is a great way to allow their friends and family members to easily buy and hold bitcoin,” said Lee.
Finally the industry has a One Stop Bitcoin shop at the tip of their fingers.