The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of hackers having an access point to your private keys by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not tested in battle yet. This is something potential buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the future.
In conclusion, the Ellipal device is an fresh competitor in the market for hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with the other options. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is 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 to use as other hardware wallets, and it’s a relatively new product that’s available.