I was checking an article on hardware wallets and got the link to
ballet wallet. I was expecting a hardware wallet there but it's cold storage. However, I'm a bit confused. It seems like a paper wallet. If it's cold storage like a paper wallet; how the security of the private key is ensured? The company itself won't manipulate but is there a chance that they can manipulate; do they have access to the private key? If not, how do they generate the private key?
It all looks like a card; the private key (passphrase written) is covered as a scratch card. How is it a secure one?
Ballet is not really a hardware wallet, it's more like collectible item that looks cool and that's about it.
I think it's NOT safe to be used for storing bigger amount of coins, because you have to trust them and their manufacturing procedures don't have any leaks.
They claim they are doing this private key printing in different locations, but I prefer generating my own key or seed words instead of third party doing it for me.
For me this is not secure wallet, and I wouldn't recommend it to anyone.