The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports 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 that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market that claims to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product that’s available.