The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, each promises to keep digital assets 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 an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more important. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses your private keys will remain safe and secure.
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 communicates via QR codes through a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key through the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the market for hardware wallets that claims to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product available on the market.