The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal digital wallet gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been 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 unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to add more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an brand new player on the market for hardware wallets and promises to be completely secure because of its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product on the market.