The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can 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 remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to add the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a fresh competitor in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other wallets. It’s also an all-new product that’s available.