The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to take into consideration when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet supports 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 supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new player in the hardware wallet market that claims that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product available on the market.