The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t battle-tested yet. 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 a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the hardware wallet market and promises to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also an extremely new product available on the market.