The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets 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 an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer which is infected by viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers should take into consideration when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the future.
In conclusion, the Ellipal wallet is a new player in the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product on the market.