Cryptocurrency wallets play a crucial role in managing digital assets securely. Two popular wallets, Ballet and MetaMask, cater to different needs and preferences within the crypto community. In this blog post, we’ll explore the key differences between these two wallets.

Metamask

MetaMask is a browser extension wallet, compatible with major browsers like Chrome, Firefox, Brave, and more. Originally designed for Ethereum, MetaMask has expanded its support to various EVM networks and blockchains through custom RPC configurations. It employs a non-custodial approach, managing private keys and enabling users to import/export seed phrases.

Ballet

Ballet’s flagship product is the REAL Series cryptocurrency cold storage — the world’s first multi-currency, non-electronic cryptocurrency cold storage. The Ballet REAL Series is a physical cryptocurrency cold storage that gives you full and exclusive control of your digital assets. A two-factor cryptographic private key is securely concealed on the physical card itself, which allows the cold storage to function as a bearer asset like cash or gold.

The Ballet Crypto app is a companion app that serves as a digital interface for physical Ballet products. The app provides all the essential functions of a cryptocurrency cold storage while allowing private keys to remain securely offline.

Forget about the complexity of crypto forever. The Ballet REAL Series cold storage is designed to be user-friendly, secure, and hassle-free, making it the perfect choice for anyone new to crypto.

The unique non-electronic design requires no updates and removes all hassles and software-related risks.

Major Differences

Security

Metamask is what the industry considers a hot wallet, whereas the Ballet cold storage is by definition, a cold wallet. Hot wallets are online wallets connected to the internet, making them actively accessible for quick transactions. They can be in the form of software wallets, mobile apps, or wallets provided by cryptocurrency exchanges. Cold wallets, on the other hand, operate offline and store private keys in a secure, offline environment.

MetaMask is just such a browser extension, which is considered a hot wallet because it is always connected to the internet. By installing it, you can access your crypto wallet — and most of its functionality — via an icon beside the address bar of your browser. In one click, a small panel opens showing your portfolio, pricing data, and more. And it works with most major browsers.

However, extensions have some major side effects, including:

• They’re easily spoofed, exposing you to phishing scams. If you install a fake copy of the original and enter personal info, your data (and assets) are at risk of theft.
• They’re often used in non-private browsers like Google Chrome, opening you to data leaks of browsing behavior.
• They require extra processes to run on your computer, phone, or tablet. This means high CPU and local device memory usage, and overall slow-down of device performance.
• They’re dependent on the browser. For example, if Google decided to remove a wallet extension from the Chrome Web Store, you’d have a hard time accessing your funds.

The Ballet cold storage cards are all open-source on an air-gapped physical metal card. In addition, your raw private keys have never been instantiated until you combine both key components on the card. Due to the product’s non-electronic nature, nefarious hackers online can NOT get access to your funds.

Seed Phrases

Metamask leverages the open-source standard of BIP39, turning your private key into human-readable words, aka seed phrases. Metamask will also require users to backup these words by writing it on a piece of paper, storing it in a text file, or etching it onto metal.

Ballet, on the other hand, does not require their users to backup their seed phrases. There are many pitfalls with requiring users to backup their seed phrases. Many instances of lost or stolen seed phrases have deterred many newcomers from being able to manage their own wallet.

At the end of the day, it’s up to the owner to place their Ballet card in an unreachable and safe place that only the owner knows. We also stress the importance of diversifying your crypto assets among different wallets as a precaution if one gets stolen. And one could always make a backup of the keys on the Ballet card, but to warn you, the act of creating a backup can also increase the surface area of the risk of getting one of them stolen. So there needs to be a fine balance of deciding on whether to create a backup or spreading your assets out over different wallets.

At the end of the day, anything you personally attach importance and value to should be properly cared for, including its security.

Portability

Metamask always sits on your computer most of the time. Unless you plan to move around with your computer often, then it is difficult to be by your metamask and your crypto at all times.

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.

Convenience of Usage

Metamask requires one to install the browser extension, backup seed phrases in secure location, configure a password for the extension, and a few other steps.

The Ballet cold storage was designed to be out-of-the-box, ready to use! Its design has enabled a user/customer to immediately deposit their crypto onto the card thanks to the public address display on the front of the card being readily available.

The Ballet Crypto app is a companion app that serves as a digital interface for physical Ballet products. The app provides all the essential functions of a cryptocurrency cold storage while allowing private keys to remain securely offline.

Chain Support

Metamask ONLY supports Ethereum and other EVM chains.

Ballet also supports Ethereum and other EVM chains, as well as bitcoin, litecoin, and hundreds of other chains. Ballet truly is multi-currency whereas Metamask is only siloed in the EVM ecosystem.

Privacy

As stated before, Metamask is ALWAYS online and prone to phishing attacks or internet spoofers. There are thousands on recorded incidents online of people’s metamask wallet getting hacked into and drained out.

The Ballet cold storage is ALWAYS offline. Nobody has access to your private key components. Also, since our existence, the Ballet products have NEVER been hacked into or have run into product mishaps that have led to loss of user funds.

Are you ready to try out the Ballet cold storage for your crypto journey? Start now here.