The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to note that the 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 the TREZOR is connected TREZOR to a compromised computer that is infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not tested in battle yet. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market, promising to be completely secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product available on the market.