The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
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 and reviews online claim they are 100% secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer that is infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add more support for coins in the future.
In the end, the Ellipal device is an fresh competitor in the hardware wallet market and promises to be 100% secure because of its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth 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 for use like other wallets. Additionally, it’s an extremely new product on the market.