The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information by the network. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new competitor in the hardware wallet market and promises that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record 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 price is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product that’s available.