The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes more essential. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh player on the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets, and it’s an extremely new product on the market.