The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised device that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market for hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product on the market.