The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an all-new product on the market.