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 safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises to be completely secure due to its complete separation 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 supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets, and it’s an extremely new product available on the market.