The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Its 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 grows more commonplace, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the market for hardware wallets that claims to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. It’s also an extremely new product available on the market.