The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a brand new competitor in the market of hardware wallets and promises to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product that’s available.