The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR with a compromised device that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information through a network connection. It’s important to note that this could mean that 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 costs $149 and is fairly recent to market which means that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a 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 is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an new player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product that’s available.