The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In the end, the Ellipal device is an brand new competitor in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product that’s available.