Importance of Private Key in Hardware Wallet

A Hardware wallet is an electronic device that is designed and manufactured to protect an individual’s cryptocurrency funds by securing their private keys. The reason behind this hardware wallets is to isolate the private keys from online methods of storage, such as on PCs or Smartphones. Storing your private keys offline prevents against this as hackers would have to physically steal your hardware wallet in order to gain access to a user’s private keys.

ELLIPAL brings you the Hardware Wallet that can be paired with the mobile app to make sure the private keys regarding your cryptocurrencies are safe on your mobile. Currently, on version 2.4 (latest version), ELLIPAL hardware wallet stores your private keys offline i.e. in cold storage for added security. While most of the conventional cryptocurrency wallets store private keys online, on a mobile device, hardware, computer and even on a piece of paper, ELLIPAL makes sure your private keys are never hacked because of the hardware is isolated from any wired or wireless connections.

2 comments

People Don't Understand Bitcoin LOL

lol these two who doesn’t understand how to recover accounts properly and blaming ellipal. You need to make sure your passphrase is right and also if it was in segwit format. Just don’t forget how you set it up in the first place so you can recover it correctly. Don’t mix up your mnemonics as well!!! Also, ellipal doesn’t delete accounts after an update, maybe your version was too old.

People Don't Understand Bitcoin LOL
Juan c

HI I uploaded the new version on my EC01 ver 1.5 firmware. After updating my cold wallet, I lost my 2 account. I tried to recover the 2 accounts with the mnemonics, and only 1 of both I could get. The anemic A never returned my account, now I have my money locked in account and the private key lost. The private key that is recovering is different to my real one I think you have breach in you ellipal system.

Juan c

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