The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. 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 is becoming more widespread, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys are still protected and safe.
Ellipal is a unique wallet. 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 connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key by the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not combat-tested to date. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end, it is clear that the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be completely secure because of its complete isolation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets, and it’s a relatively new product that’s available.