The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something that potential buyers need to take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an brand new player on the market for hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product that’s available.