The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been combat-tested to date. This is something potential buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide more support for coins in the near future.
In conclusion, the Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.