The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet is a device that keeps the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets and promises to be 100% secure because of its complete separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features 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 up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.