The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised computer that is 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 that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key via the network. 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 for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.