The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state they are 100% secure, but it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been tested in battle yet. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add more support for coins in the future.
In conclusion it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets and promises to be completely safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product available on the market.