The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage becomes more crucial. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys by the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it’s not tested in battle yet. This is something potential buyers must keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new competitor in the market of hardware wallets, promising to be 100% secure because of its complete inaccessibility to any network or computer. 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 the price of $149 is in line with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product on the market.