The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market and promises to be completely secure because of its complete separation from any computer or network. 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 its price of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product on the market.