The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
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 help fund its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide more support for coins in the near future.
In conclusion, it is clear that the Ellipal device is an new competitor in the hardware wallet market and promises to be completely safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle 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 fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets. It’s also an extremely new product that’s available.