The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes more important. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy 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 need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for 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 a relatively new product that’s available.