The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information via the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something potential buyers must take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player on the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.