The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, 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 safe option since it blocks the possibility of hackers getting access to the private key via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market of hardware wallets that claims to be completely safe due to its total isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.