The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet is a gadget that keeps the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not battle-tested yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the 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 more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a new player in the market of hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.