The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking 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 an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if you connect your TREZOR on a compromised system which is infected by viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the hardware wallet market and promises to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product that’s available.