The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it’s not battle-tested yet. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. 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 might be a worry for some buyers. The company is currently working on adding the support of more coins in the near future.
In conclusion, it is clear that the Ellipal device is an brand new player in the hardware wallet market, promising to be 100% safe due to its total separation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product on the market.