The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised device that is infected with viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a new player in the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with its competitors. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets. Additionally, it’s a relatively new product on the market.