The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers gaining access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t combat-tested to date. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets that claims that it is 100% secure due to its complete separation from any network or computer. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product available on the market.