The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining access to the private key via the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower 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 more support for coins in the future.
In conclusion it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product on the market.