The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are 100% secure, but it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised system which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its 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 through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something that potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player on the hardware wallet market, promising that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an all-new product on the market.