The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal digital wallet gadget which keeps the private keys 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 player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market that claims to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. 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 with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.