The world of cryptocurrency has witnessed 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 is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not tested in battle yet. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and 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 provide the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost 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. It’s also a relatively new product on the market.