The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system which is infected by viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker getting an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before 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 an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product on the market.