The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state they are completely secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key via the network. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the hardware wallet market, promising to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether or not 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 to use as other wallets. It’s also an all-new product that’s available.