The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to provide support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a new competitor in the hardware wallet market that claims to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product on the market.