The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is the latest 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 it is becoming more important to secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an new competitor in the market of hardware wallets and promises that it is 100% secure because of its complete separation from any network or computer. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.