The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more important. The Ellipal digital wallet device that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with its competitors. While the idea 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. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product available on the market.