The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal digital wallet 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 new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys by a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been tested in battle yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product that’s available.