The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly important. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device which is infected by viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. 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 a hacker getting gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh player on the market of hardware wallets, promising to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product available on the market.