The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information by an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market of hardware wallets, promising to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other wallets, and it’s an all-new product available on the market.