The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear of the. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information through a network connection. It’s important to note that this also means that 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 is priced at $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin, 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 and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In the end, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.