The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage is becoming increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via an internet connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been tested in battle yet. This is something potential buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add more support for coins in the future.
In the end In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. Its creators are 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 tag of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also a relatively new product available on the market.