The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses, your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small 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 buyers. However, the company is currently working on adding more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises to be completely secure due to its complete isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product available on the market.