The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets is becoming increasingly important. It is the Ellipal digital wallet gadget that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised device which is infected by 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, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining access to the private key through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports 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 customers. The company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal wallet has been a fresh player on the hardware wallet market and promises that it is 100% secure because of its complete isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.