The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via the network. However, it’s important to remember that this also means 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 retails for $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as 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 users. But, the company is working to add support for more coins in the future.
In conclusion it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure due to its complete separation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an extremely new product on the market.