The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely 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 competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are completely secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR with a compromised device that is 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 network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes via a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new player on the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product available on the market.