The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes more essential. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t 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 has not been combat-tested to date. This is something potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins 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 might be a worry for some customers. But, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh player on the market for hardware wallets, promising to be 100% safe due to its total separation from any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets, and it’s a relatively new product that’s available.