The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower 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 the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a brand new player in the hardware wallet market that claims that it is 100% 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 battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.