The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its 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 is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on 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 isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of hackers having access to the private key through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t 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, which means that it isn’t tested in battle yet. This is something prospective buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.