The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes more essential. It is the Ellipal digital wallet device that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR as well as 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 device which is infected by viruses your private keys will remain safe and secure.
The 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 cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been 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 is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh competitor in the hardware wallet market that claims to be completely secure because of its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.