The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been tested in battle yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is 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 of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets. It’s also a relatively new product that’s available.