The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are 100% safe, however it is important to note that the hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys through the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, 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 fresh competitor in the hardware wallet market that claims to be 100% safe due to its total separation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product that’s available.