The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more essential. The Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide support for more coins in the near future.
In the end, the Ellipal device is an new player in the market of hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.