The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to remember that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys via a network connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal device is an new player on the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing, 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 or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets, and it’s a relatively new product on the market.