The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the future.
In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets that claims to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product available on the market.