The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses your private keys will remain protected and safe.
The 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 cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining access to the private key through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were around for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few which include 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 could be a problem for some customers. But, the company is working to add support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before 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 an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets, and it’s a relatively new product that’s available.