The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets is becoming increasingly important. It is 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 behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to remember that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via the network. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it has not been battle-tested yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, 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 as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.