The world of cryptocurrency has seen an significant increase in the number of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something prospective buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the near future.
In the end, it is clear that the Ellipal wallet is a new player in the market for hardware wallets, promising that it is 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets. Additionally, it’s a relatively new product that’s available.