The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. The Ellipal wallet is a device that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market 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 that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of 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 a unique design however, it’s not as user-friendly for use like other wallets. It’s also an all-new product that’s available.