The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised device 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 network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly secure choice as it removes the possibility of hackers having gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem 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 has been a new competitor in the market of hardware wallets that claims to be 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product on the market.