The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting an access point to your private keys by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not tested in battle yet. This is something potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have 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 the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new competitor in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Its creators are 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. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other wallets. It’s also a relatively new product that’s available.