The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the future.
In the end In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets and promises to be completely secure because of its complete separation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s an extremely new product available on the market.