The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, each claims 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 unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly important. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that has been infected with viruses your private keys will remain secure and safe.
Its 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 connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers need to be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer 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 currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion, the Ellipal device is an new player in the hardware wallet market that claims to be completely safe due to its total isolation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets, and it’s a relatively new product available on the market.