The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are completely safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers having an access point to your private keys through an internet connection. However, it’s important to remember 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 simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market, promising that it is 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product available on the market.