The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised device which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information by the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for simple 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 need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower 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 support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market for hardware wallets that claims that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with other wallets. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.