The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more crucial. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is distinctive 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 using cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information through the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal device is an fresh player on the market of hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.