The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market that claims to be completely secure due to its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other wallets. It’s also a relatively new product on the market.