The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly important. The Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it has not been combat-tested to date. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add more support for coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the hardware wallet market and promises that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.