The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more important. It is the Ellipal digital wallet device that stores the private key to digital assets off-line, preventing hackers from stealing them 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 help fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information through an internet connection. It’s important to note 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 retails for $149. It is fairly recent to market which means that it has not been combat-tested to date. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an brand new player on the hardware wallet market that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with its competitors. Although the concept 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 decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product that’s available.