The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that is infected with viruses Your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it a very safe option since it blocks the possibility of hackers having an access point to your private keys by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets and promises to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s a relatively new product available on the market.