Why Two Hardware Wallets are Better Than One - ELLIPAL

Why Two Hardware Wallets are Better Than One

In this day and age, if you are serious about cryptocurrency, it is almost common sense to get yourself a hardware wallet or even better, a cold wallet. Most of you probably already have one to keep your keys safe and offline.


If you do not know what is a hardware wallet or a cold wallet, they are devices that help you keep your private keys offline and untouchable from online hackers. It is important to take care of your private keys because your bitcoins = your private keysYour coins are not yours if you don’t hold your private keys.


While most people will normally just have one, experts in the cryptocurrency and serious investors have two or more hardware wallets. This is because there are many advantages to this, here's why:


  1. It is important to keep a backup

Your coins are valuable so why not keep a backup? If you manage to lose or damage your hardware wallet, you can always recover them using the seed key on the backup wallet. You may say that you can always order a new one but what if you need to access your coins now? Downloading an online wallet App to use first will not do as you will be compromising all of the security. Moreover, most hardware wallet providers give special prices if you order two together so you could be saving money than buying a backup later. 


  1. Keep them as clone wallets

It is possible to have two wallets to be keeping the same private keys as one another. This way you can always keep one with you wherever you go and have one at home for safety purposes. If your wallet gets stolen or lost, you can always have your clone wallet transfer your coins to a new account. This is very important for those that have invested heavily in cryptocurrency.


  1. Spread the risks

The prices of your coins are sure to keep rising, making your assets now incredibly important and valuable. It's best to have as many keys as you see reasonable to spread the risk of losing them. Although one ELLIPAL can store multiple private keys, it is still a good idea to spread your funds between two wallets.


Having two hardware wallets keeps your mind at ease and it is also very practical. Especially, if you are using the ELLIPAL, it would be a very satisfying experience. ELLIPAL is completely isolated and works seamlessly with your mobile App. You will never have to worry if a public network will hack your keys anymore because ELLIPAL cannot be connected to any network. You can also send or exchange your coins with just a few simple QR code scans making the ELLIPAL extremely portable.


Be satisfied with the experience of taking and accessing your private bank anywhere while not having to worry about losing it as you already have a backup at home!


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