The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide support for more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh player on the market for hardware wallets that claims to be completely safe due to its total separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product on the market.