The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes more essential. The Ellipal digital wallet device that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Ellipal is a unique wallet. 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 through QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other 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 individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets. It’s also a relatively new product on the market.