The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something prospective buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for longer and have a proven track record of security.
In terms of support for coin, 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. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to add the support of more coins in the future.
In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets, promising to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.