The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers having an access point to your private keys through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been combat-tested to date. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of support for coin 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. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether 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 however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product that’s available.