The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not 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 makers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with 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 customers. But, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a safe 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.