The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet can be described as a device that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven track record of security.
In terms of support for coin, 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 along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product that’s available.