The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing firms like TREZOR as well as 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 device that is infected with viruses Your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information via the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide the support of more coins in the future.
In conclusion, the Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete isolation from any network or computer. The company behind it is 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 its price tag of $149 is in line with its competitors. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets, and it’s an all-new product on the market.