The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal wallet is a device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, 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 has been a fresh competitor in the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also a relatively new product on the market.