The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not battle-tested yet. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with 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 buyers. But, the company is working to provide support for more coins in the future.
In conclusion, it is clear that the Ellipal device is an fresh player in the hardware wallet market and promises to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.