The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses your private keys will remain safe and secure.
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 wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, 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 has not been battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have 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 which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises that it is 100% secure because of its complete separation from any network or computer. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product on the market.