The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new player in the market for hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product on the market.