The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more important. It is the Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key via an internet connection. It’s important to note 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 simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets, and it’s an all-new product available on the market.