The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. The Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain protected and safe.
Its 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 connections. Instead, it communicates through QR codes through cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets and promises to be 100% safe due to its total separation from any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets. It’s also a relatively new product on the market.