The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each promising that digital assets will be 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 becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key via the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
Regarding support for coins 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, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the market of hardware wallets that claims that it is 100% secure due to its complete separation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. It’s also an extremely new product on the market.