The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are 100% secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker having access to the private key via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a new player on the market for hardware wallets and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. The final decision about 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 easy for use like other wallets. Additionally, it’s an extremely new product available on the market.