The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information by the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as 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 users. The company is currently working on adding the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is new and the product has not 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 its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an extremely new product on the market.