The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device 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 network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add more support for coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh player on the hardware wallet market that claims to be 100% secure due to its complete 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 supports a limited number of coins and the price of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other wallets, and it’s an extremely new product that’s available.