The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the market of hardware wallets that claims to be 100% safe due to its total separation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product on the market.