The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR to a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something prospective buyers must be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a new player on the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s an all-new product on the market.