The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised system 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 computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few 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 could be a problem for some customers. The company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market for hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product that’s available.