The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a gadget that stores the private key 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 young company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that has been infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer 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 add the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets, and it’s a relatively new product that’s available.