The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline to prevent hackers from taking them 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 the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 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 attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain protected and safe.
Its 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 via QR codes through cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information by the network. 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 relatively recent to market which means that it has not been battle-tested yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time 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 supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.