The cryptocurrency market has seen a significant increase in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information by the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising to be 100% secure due to its complete separation from any network or computer. Its creators are 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 tag of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.