The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware, 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 potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s 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 on par with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets. It’s also an extremely new product on the market.