The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest 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 it is becoming more important to secure the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting access to the private key by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal device is an new player in the hardware wallet market and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.