The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal digital wallet 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 new player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is 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 access your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique 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 back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a brand new player in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product that’s available.