The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget that keeps the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on 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 as well as reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.