The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its 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 means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been 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 is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In the end, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. It’s also a relatively new product on the market.