The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to 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, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal device is an fresh player in the market of hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. It’s also an all-new product that’s available.