The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new 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 they are 100% secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an new competitor in the market for hardware wallets and promises to be completely safe due to its total isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.