The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a tool that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state they are completely secure, but it’s important to note that the hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information by 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 can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh player on the market of hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with its competitors. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product on the market.