The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player on the market of hardware wallets that claims to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.