The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes more essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding the support of more coins in the future.
In conclusion, the Ellipal device is an brand new player on the hardware wallet market that claims to be 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice 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.