The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers having an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not tested in battle yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh competitor in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price 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 wallets, and it’s a relatively new product available on the market.