The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a gadget which keeps the private keys 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. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the market for hardware wallets that claims to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with other wallets. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets. It’s also a relatively new product available on the market.