The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.