The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key through the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly 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 has not been tested in battle yet. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding support for more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player on the market of hardware wallets that claims to be 100% secure due to its complete separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product that’s available.