The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promising that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding 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, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets, promising to be 100% safe due to its total separation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with the other options. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other hardware wallets. It’s also an all-new product on the market.