The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. It is the Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses your private keys will remain protected and safe.
The 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 connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a new competitor in the hardware wallet market that claims to be completely secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other hardware wallets, and it’s a relatively new product available on the market.