The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not tested in battle yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh player on the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other wallets. It’s also a relatively new product available on the market.