The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly important. It is the Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small 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 may be a concern for some buyers. The company is working to provide support for more coins in the near future.
In conclusion, the Ellipal wallet is a fresh player on the market of hardware wallets that claims that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively 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 its price tag of $149 is on par with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.