Cryptocurrency is a decentralized virtual digital asset that is usually live in the blockchain network, distributed in the network of varied computer systems and secured in a Hardware Wallet. It can only be accessed through a private key which is usually stored in Crypto Wallets.
One such variety of cryptocurrency wallets is hardware wallets. These wallets store your private key, both public and private, securely in a hardware device rather than a software or app. It keeps your keys much safer by keeping them offline and isolated from connections which might become a window for hacks and malwares. It works much like a physical wallet but instead of storing your money, it stores the key to the safe which holds your money.
In this article, we will seek to understand and learn about hardware wallets in detail. We will also discuss what private keys are and what are the different kinds of hardware wallets. Moreover, we will also discuss a new and safest hardware wallet available in the market called Ellipal and its advantages over other wallets.
What Are Private Keys?
Private keys are like passwords to your cryptocurrency. Crypto being a decentralized asset, cannot be stored in one central server, therefore, it is live on the blockchain network, a distributed ledger enforced by a network of variety of computer systems. Whenever a user needs to make a transaction, Private Keys are used to access the associated crypto in the network and be used.
Private keys are unique to each user and the only firewall between your assets and a hacker or a malware which might steal or appropriate them. Therefore, protection of private keys is of utmost importance.
What’s Non-air-gapped Wallet?
Non-air-gapped wallets are the primitive kind of hardware crypto wallets. They usually look like a USB stick and use USB drives, Bluetooth, Wi-Fi, NFC and other kinds connections to make transactions. Such wallets need to be connected to devices which are connected to networks to make crypto transactions which makes them susceptible to breaches, hacks and malwares.
These non-air gapped wallets are still relatively safer than the software or app-based wallets because they are always online and connected to networks.
What’s Air-gapped Wallet?
Air-gapped Wallets are hardware crypto wallets that are 100% offline and completely disconnected from any internet network both wireless and physical at all times which makes them the safest alternatives when considering crypto wallets. They provide the highest level of security for the Private Keys in exchange of minor inconveniences. Such wallets use QR or other optical methods to make crypto transactions and even during transactions, such wallets are not connected to any network whatsoever making them impossible to be hacked or breached. Therefore, they are the safest alternatives for the safekeeping of your Private Keys.
Use Ellipal As Your Hardware Wallet
Cold Wallets or Air-gapped wallets are the safest alternatives available for the safekeeping of your digital assets. Ellipal is one of the most trusted cold wallets in the market it keeps your Private Keys completely offline and 100% secure from any kind of hacks or malwares. The most popular crypto cold wallet ELLIPAL Titan Mini uses QR displayed on its small, 4-inch colored touch screen to communicate with its app and carry out the transactions. Ellipal is the next generation of crypto wallets that offer the highest level of security to your Cryptocurrency.
Hardware wallets are physical wallets which store your private keys in a physical device, away from networks through which your wallet may be hacked and your crypto stolen. They are an alternative to app-based crypto wallets which, while offering convenience, sacrifice heavily on security. The newest technology of air-gapped crypto wallets is the future of hardware crypto wallets and possibly the safest alternative for keeping your cryptocurrency safe.