The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive 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 via cameras on its rear 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 through the network. However, it’s important to remember that this means 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 is priced at $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and 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 currently working on adding support for more coins in the near future.
In conclusion, it is clear that the Ellipal device is an brand new player on the hardware wallet market and promises that it is 100% safe due to its total separation from any network or computer. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an extremely new product that’s available.