The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the 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. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market that claims to be 100% secure because of its complete separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a choice. In the end, the decision on 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, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.