The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information by the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been combat-tested to date. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the near future.
In conclusion, the Ellipal wallet is a new player on the hardware wallet market and promises to be completely safe due to its total isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product available on the market.