The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses Your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers having gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been battle-tested yet. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new player in the market of hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product that’s available.