The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something potential buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with 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. The company is working to provide support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets, promising to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.