The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an new competitor in the hardware wallet market that claims to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price 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 choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product on the market.