The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a very safe option since it blocks the possibility of hackers getting access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not combat-tested to date. This is something potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets and promises to be completely safe due to its total isolation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product that’s available.