The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its reviews online claim they are completely safe, however it is important to note that the hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses Your private keys will remain safe and secure.
Its 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 transmits QR codes through an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a proven 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, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player in the market of hardware wallets and promises to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an extremely new product available on the market.