The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an new competitor in the hardware wallet market, promising to be 100% safe due to its total separation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other wallets, and it’s a relatively new product that’s available.