The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
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 help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised device 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 computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not tested in battle yet. This is something prospective buyers must be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the hardware wallet market that claims to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product on the market.