The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that the Ellipal device is an fresh competitor in the hardware wallet market that claims that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with the other options. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product on the market.