The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not combat-tested to date. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises to be completely safe due to its total inaccessibility to 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 only a few coins and the price at $149 is comparable with the other options. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.