The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also an extremely new product that’s available.