The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses Your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market of hardware wallets and promises that it is 100% secure due to its complete separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product on the market.