The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware on the market in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t tested in battle yet. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, the Ellipal device is an new competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product available on the market.