The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses your private keys are still secure 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 wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the future.
In conclusion In conclusion, the Ellipal device is an brand new player in the market for hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s a relatively new product on the market.