The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a new player in the hardware wallet market that claims to be 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product on the market.