The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key through a network connection. However, it’s important to remember that this also means that 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 fairly new to the market, which implies that it’s not battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new player on the market of hardware wallets, promising to be 100% secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s an extremely new product available on the market.