Will Crypto Wallets Become An Everyday Item To Carry?
How else are you going to pay for that cup of coffee?
For as long as most of us have been living, wallets are an important part of our everyday lives. We carry them everywhere we go and make sure they’re always in our possession. We keep our most important cards and IDs in there, besides cash. We keep them tucked away in our pockets or bags. We personally decide on what type, color, size, and feel we want our wallets to have.
It’s safe to say that our wallet is our life.
But could that be soon changing?
Crypto and the world of web3 has spawned a new financial paradigm upon us where our financial assets are no longer physical, but rather digital. The antiquated method of taking out some cash or credit cards and physically handing it over to someone else are soon becoming long gone. A few button clicks or taps from our crypto wallet have become mainstream in many crypto native users.
Let’s chat about what a crypto wallet is first.
A crypto wallet comes in various forms but the basic definition is that it is a tool that holds and secures your private key. Most crypto wallets also provide many functions such as transfering, receiving, swapping, and etc.
So think of a wallet as consisting of your secret personal pen and notepad to write messages. These messages are drafted with the intent of what you want to do with your bitcoin/crypto, who you want to send it to, the amount that is being targeted, and some other metadata.
This message is then signed (to express authenticity) and encrypted with your secret personal pen (the private key) that only YOU have access to. When the message is finalized, the message is then sent to all of the ledgers on the network for confirmation and processing.
So it is utterly important that you keep your private key, or wallet, safe.
Well what if you lose the crypto wallet? Well we have dived deep into that question here.
At the moment, it may seem a bit taboo or dangerous to be carrying around your crypto wallet. Diversifying your crypto wallet strategy is an excellent way of mitigating losing all your digital assets at once. You can even ask yourself, do you carry all your fiat wealth around with you in your wallet? Of course not. It’s spread out within different locations, bank accounts, banks, and etc. This mindset will eventually translate to the way we secure our digital assets. Designating some for everyday spend and leaving the remainder in safer locations would be the logical step.
The market for hardware wallets is filled with a plethora of different variations in size, shape, weight, look, and feel. Some may feel clunky, others may feel small, while others feel just right. The Ballet wallets were not only designed to be simple and secure to use, but also to be ergonomically efficient in one’s everyday lifestyle. With the inevitability of crypto becoming mainstream when mass adoption happens, being able to bring along your cold offline wallet with you, wherever you go, will become the norm.
With the Ballet wallet, you can carry it around in a familiar fashion as you do with your cash or credit cards. It’s thin enough to slide in your pocket or wallet slit making it essentially unnoticeable from other cards in your wallet. Many cell phone cases these days are even equipped with a card holder giving your Ballet wallet another spot to be held in a comfortable position.
And to double down on Ballet’s form factor advantage, its sturdy stainless steel material makes it practically unbreakable or unbendable.
When designing a physical crypto wallet, you don’t want a device that is clunky or uncomfortable to carry around on a daily basis. Some may be great to just leave at home and use only in private but when the time comes where everything can be paid with crypto, you’re going to want a crypto wallet that is not only simple and safe to use, but also ergonomically convenient to carry around.
Credit cards and its all too familiar card-shaped form factor has a long history that can be dated even before the advent of credit cards. That thin rectangular form, snug fit in our hands is pervasive in the way many of our important daily items are shaped. From business cards to subway passes, we’re naturally well aware of the mechanics and purpose of what they are used for when placed in our hands.
The time will come when mass adoption of crypto payments will become as normal as taking out our cash or credit card at the local bodega. The question will then become, how will you carry around your crypto? What crypto wallet will make your everyday purchases convenient, simple, and safe? What crypto wallet will define your identity and style?
We believe these questions start with Ballet.