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 secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide support for more coins in the near future.
In the end, it is clear that the Ellipal device is an new competitor in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets, and it’s a relatively new product that’s available.