The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something potential buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide support for more coins in the future.
In conclusion In conclusion, the Ellipal device is an new player in the hardware wallet market that claims to be completely safe due to its total separation 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 the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.