The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a new player in the market for hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of 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 concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.