The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal digital wallet gadget that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets. Additionally, it’s a relatively new product on the market.