The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are completely secure, but 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 access your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information via the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a fresh player on the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product on the market.