The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers must take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of support for coin, 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 may be a concern for some customers. The company is working to add support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a new competitor in the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.