The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more crucial. It is the Ellipal wallet is a device that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something prospective buyers should take into consideration when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports 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 could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a fresh player in the hardware wallet market that claims that it is 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product available on the market.