The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews state they are completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins 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 customers. But, the company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal device is an brand new competitor in the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.