The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more important. The Ellipal wallet is a tool that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised device that is infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers having an access point to your private keys via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market of hardware wallets that claims to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product on the market.