The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something prospective buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player in the market of hardware wallets and promises to be completely safe due to its total separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.