The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys are still protected 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 transmits QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not tested in battle yet. This is something potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product that’s available.