The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal wallet is a device that keeps the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in 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% secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker having access to the private key by a network connection. It’s important to note that this means the Ellipal wallet isn’t 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 fairly new to the market, which means that it has not been tested in battle yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In the end, it is clear that the Ellipal wallet has been a new player on the hardware wallet market and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an extremely new product that’s available.