The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets, promising that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product that’s available.