The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool 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 young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something that potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are 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 currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh player in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product on the market.