The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as 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 fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player in the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product that’s available.