The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking their assets 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 finance the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, 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 users. But, the company is working to add more support for coins in the future.
In the end it is clear that the Ellipal device is an fresh player on the market for hardware wallets that claims to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s a relatively new product that’s available.