The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information through the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something potential buyers must take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market of hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.