The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique 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 via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key 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 connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets, promising that it is 100% safe due to its total 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 a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other hardware wallets. It’s also a relatively new product available on the market.