The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field 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 security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim they are completely safe, however it is important to note that the hardware wallets of rival businesses like 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 computer that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers having access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t 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 fairly new to the market, which implies that it has not been combat-tested to date. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new player in the market of hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s a relatively new product available on the market.