The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information through the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and 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. However, the company is working to provide the support of more coins in the future.
In conclusion, the Ellipal wallet is a fresh player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a totally separated hardware wallet sounds appealing 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 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 in use as the other wallets. Additionally, it’s a relatively new product that’s available.