The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years. Each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes more important. The Ellipal wallet can be described as a tool that stores the private key 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 young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market for hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost 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 hardware wallets. It’s also a relatively new product available on the market.