The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not combat-tested to date. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In conclusion, the Ellipal device is an new competitor in the hardware wallet market, promising to be 100% secure because of its complete separation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with the other options. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets, and it’s an all-new product available on the market.