The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes more important. It is the Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys through a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been battle-tested yet. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add support for more coins in the future.
In the end it is clear that the Ellipal device is an brand new player in the market of hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product available on the market.