Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,286 trillion. Bitcoin manages to withhold the $30k level after a disappointing week. Ethereum lost almost 3% of its value over the past seven days. XRP decreased by nearly 3% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $0.3 billion from the…
Digital Currencies, unlike fiat currencies, need a cryptocurrency wallet as their safety house pending their use by its owner. This led to the development of both software and hardware wallets as places of storage for cryptocurrencies. Safety of funds has always been a priority with any investment platform; no wonder centralized institutions go the length and breadth to secure its customers’ assets and funds. The crypto-sphere has suffered great turmoil in hackers’ hands, absconding with crypto enthusiasts’ hard-earned funds. It has always been one of the common “good morning messages” that accessing your wallet online is unsafe.
However, crypto enthusiasts did not have much choice until the development of hardware wallets came into place. Pioneering in the development of hardware wallets were companies like Ledger and Trezor. Hardware wallets were designed to save users’ private keys in an offline mode to prevent hackers’ attempts to access these keys.
Unfortunately, advancements in technology have also brought some flaws in some existing hardware wallets due to its usage. Most of these hardware wallets still require users to connect their wallets to an online computer before making a transaction. This is where Robin (hacker) gets the opportunity to rob the hood (crypto enthusiasts). This loophole has been sealed completely by the development of the Ellipal Air-Gapped Wallet.
The Security Measures employed by Ellipal
Ellipal Hardware wallet is the first cryptocurrency wallet that enables its users to complete offline transactions without connecting to any network in Bluetooth, WIFI, Mobile Network, etc. This feature describes its air-gapped nature, making it absolutely impossible for any hacker to access its users’ funds remotely. It’s pretty normal to cross your wires to make transactions on Ellipal wallet due to its air-gapped nature. Making transactions with the use of the Ellipal wallet is done with the use of its mobile application by scanning the QR-Code on the hardware wallet.
In addition to being air-gapped, the ELLIPAL Titan is built with an IP65 rated, fully sealed metal body. It is dustproof, impact-proof, (light) water jet proof, and, most importantly, physical attack-proof. With its anti-tamper technology, if an attacker manages to crack open the device to steal your information physically, the system will destroy itself to protect your information. Not to say with the fully sealed metal body, it is already challenging to break in.
A Simple, Basic, and interactive Graphic User Interface that you can rely on
Both the hardware wallet and its mobile application comes with a well-designed graphical user interface that makes its use very easy and simple. Unlike other hardware wallets requiring experienced cryptopreneurs, this wallet opens up to be used by crypto starters. Another feature of this wallet that makes it stand out among existing ones is its multi-language integration. Ellipal wallet supports Korean, English, Chinese, and Japanese, expanding its reach across the globe. Running through the wallet comes with ease as it comes with an approximately 5.5” touch screen, which clearly shows its well-defined tabs and features.
Exchange and Trade your Cryptocurrencies with Ease
Volatility is one of the few hindrances that is slowing down the investment into cryptocurrencies. Still, by Ellipal mobile application, users are provided with real-time market prices, news, other crypto-related information, and when they go live. Push-up notifications and alerts can be enabled to notify crypto enthusiasts about market fluctuations based on their set targets.
Through this same platform, one can trade his/her cryptocurrencies without necessarily signing up on any cryptocurrency exchange. Hence users can catch the ups and downs of the market and execute their trades whenever they wish. Ellipal wallet supports most of the major cryptocurrencies, as well as ERC-20 Tokens. It was recently integrated with Binance main-net, supporting its coin and making transactions through Binance DEX. This makes this wallet very handy to use as it supports most of the cryptocurrencies that are being used in the crypto-sphere. With plans of integrating more cryptocurrencies, this hardware wallet would provide users the haven to keep all their assets void of any cyber-attacks.
Comparing Ellipal with some renowned Hardware Wallets
Though other wallets such as Ledger and Trezor have been in the system for a while, a simple comparison would reveal some loopholes through which hackers can exploit and have access to its users’ funds. Both Ledger, Trezor, and most hardware wallets require users to connect their wallets to a computer connected to the internet, hence evoking the concept of keeping the wallet cold. Through connections such as WIFI, USB, Mobile Network, and Bluetooth, hackers may have access to users’ funds if they can connect to such a network.
Though there has not been any report of a breach through such networks, experienced computer scientists share their concerns about such a possibility if these hackers can connect to the network during the time of transaction. On the other hand, making a transaction with Ellipal does not require users to connect their wallets to any online computer needed to join any network to make the transaction. With its QR-Code feature, transactions are completed offline, keeping the wallet in its cold state forever!
Another notable thing is the long and complex configuration process that users have to go through to get their wallets up and running. However, it takes just a few simple steps to set up your Ellipal wallet. While the Ledger wallet requires one to add all the numerous cryptocurrencies manually, this process is automatic with the use of Ellipal, hence making installation and configuration faster than most of these existing wallets.
Extend the comparison to durability, and the Titan wallet has no competitor, as it comes in a metal case designed to be tamper and reassembling proof. Most of these existing wallets come in a plastic case, making them susceptible to cracks and breakages.
While most cryptocurrency hardware wallets become hot when making transactions, Ellipal stays completely offline and remains cold. With an easy to sign up process, crypto enthusiasts and crypto starters can use this wallet with little or no difficulty. Its ability to make transactions without connecting to any network makes it absolutely impossible to breach this wallet’s security. Don’t miss the chance to order this multicurrency titan wallet for yourself at a reduced price here.
Ellipal Titan Unboxing