The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can see 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 are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information through the network. 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 easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been tested in battle yet. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to provide support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market of hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets. It’s also an all-new product that’s available.