The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly essential. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised system 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 disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys via a network connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product that’s available.