The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys will remain safe and secure.
The 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 via QR codes via a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers having gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t combat-tested to date. This is something potential buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product available on the market.