The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a device that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as 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 relatively recent to market which implies that it’s not tested in battle yet. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an extremely new product that’s available.