The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key via the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product on the market.