The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets from a remote location.
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 research and development for their products. The company’s website and online reviews state they are completely secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets that claims to be 100% secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets. It’s also an all-new product on the market.