The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. The Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a new player in the market for hardware wallets, promising to be completely secure because of its complete separation from any network or computer. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product on the market.