The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component 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 company’s website and online reviews state they are completely secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers having gain access to private information via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it has not been tested in battle yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support a limited 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 working to add the support of more coins in the future.
In the end, the Ellipal wallet has been a brand new player in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with the other options. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product available on the market.