The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key by a network connection. It’s important to note 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 to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a 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 is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. 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 available on the market.