The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a brand new player on the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested 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 its competitors. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s a relatively new product available on the market.