The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes more essential. It is the Ellipal digital wallet device that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes through a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallets before 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 however, it’s not as user-friendly for use like other wallets. It’s also an all-new product on the market.