The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes more important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses Your private keys will remain secure and safe.
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 transmits QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, 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’s not tested in battle yet. This is something prospective buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% safe due to its total isolation from any network or computer. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product available on the market.