The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated 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 of the. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh competitor in the market of hardware wallets and promises to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product that’s available.