The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys 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 player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys by a network connection. It’s important to note that this could mean that the Ellipal wallet is not 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 new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have proven track record 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, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding the support of more coins in the future.
In conclusion it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an all-new product that’s available.