The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more essential. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
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 research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key through an internet 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 brand new in the marketplace, meaning that it has not been battle-tested yet. This is something potential buyers need to 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 established track records of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player on the market of hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product on the market.