The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few which include 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 may be a concern for some buyers. The company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an new player in the hardware wallet market and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product on the market.