The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more essential. The Ellipal digital wallet tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information by the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with the other options. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an all-new product that’s available.