The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting access to the private key by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have 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, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add more support for coins in the future.
In the end, the Ellipal wallet has been a brand new player on the market for hardware wallets that claims that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice 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.