The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses Your private keys remain safe and secure.
The 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 via QR codes using a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something prospective buyers need to be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the near future.
In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product available on the market.