The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys via a network connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet 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 users. However, the company is working to provide support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product on the market.