The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the future.
In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets, promising to be 100% safe due to its total isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product available on the market.