The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are 100% secure, but it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised device that is 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, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via the network. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers must be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. 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, promising to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product that’s available.