The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an fresh competitor in the hardware wallet market that claims to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with other wallets. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product that’s available.