The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new player in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Its creators are relatively 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 the price of $149 is in line with its competitors. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets, and it’s an extremely new product that’s available.