The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised computer which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information by the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal device is an brand new competitor in the hardware wallet market and promises that it is 100% secure because of its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.