The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line and prevents hackers from taking them 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 the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique 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 through QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting access to the private key by a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t tested in battle yet. This is something prospective buyers need to take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market for hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with the other options. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to 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 an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product available on the market.