The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information through the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect 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 battle-tested yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising to be 100% safe due to its total 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 the price of $149 is on par with its competitors. Although the concept of a fully 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. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product on the market.