The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised computer that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh player on the hardware wallet market that claims to be completely secure due to its complete separation from any computer or network. The company behind it is 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 of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is 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 device is well worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s a relatively new product available on the market.