The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes more crucial. The Ellipal digital wallet tool that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers having access to the private key via the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player on the market for hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. 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 its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product available on the market.