The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy 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 should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet is a brand new competitor in the market for hardware wallets, promising to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s a relatively new product available on the market.