The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR on a compromised system which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via 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 having gain access to private information via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide support for more coins in the near future.
In the end, the Ellipal device is an new player in the market of hardware wallets that claims to be 100% safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product available on the market.