The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes more important. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline 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 player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so 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 recent to market meaning that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of support for coin 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 which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a new player on the market for hardware wallets and promises 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 is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product available on the market.