The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are completely secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key through the network. However, it’s important to remember 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 for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something potential buyers must be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.