The world of cryptocurrency has seen a significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is the latest 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 it is becoming more important to safe security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, 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 combat-tested to date. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh competitor in the hardware wallet market and promises to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product available on the market.