The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young 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 reviews online claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and 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 working to provide support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market, promising to be completely safe due to its total isolation from any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product available on the market.