The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the near future.
In conclusion, the Ellipal device is an brand new player in the hardware wallet market that claims that it is 100% secure due to its complete separation from any computer or network. The company behind it is new, and the product hasn’t 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 in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product available on the market.