The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on 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 the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer which is infected by viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount 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, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the hardware wallet market that claims to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product on the market.