The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised system which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t tested in battle yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add support for more coins in the future.
In the end, the Ellipal wallet has been a brand new player in the market for hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets. It’s also an all-new product available on the market.