The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promises to keep digital assets secure and safe. 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 security for digital asset storage becomes more crucial. It is the Ellipal digital wallet gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed 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 the development of their product. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few which include 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 customers. However, the company is working to provide more support for coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets, and it’s an extremely new product that’s available.