The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s 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 view your private key. In the event that, for instance, you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer 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 provide support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the market for hardware wallets that claims to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether 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 hardware wallets. It’s also an extremely new product that’s available.