The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. The Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers having an access point to your private keys through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market of hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a decision. The final decision about whether 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 for use like other hardware wallets. Additionally, it’s an all-new product on the market.