The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a 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 is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the future.
In the end In conclusion, the Ellipal device is an new player on the hardware wallet market and promises that it is 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 as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product available on the market.