The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. 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.
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 connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information by an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding more support for coins in the future.
In the end, it is clear that the Ellipal wallet has been a new player in the hardware wallet market that claims to be completely safe due to its total inaccessibility to any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product that’s available.