The cryptocurrency market has witnessed 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 the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets. It’s also an all-new product on the market.