The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something potential buyers should be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an all-new product on the market.