The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are 100% secure, but it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key by a network connection. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something potential buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s a relatively new product that’s available.