The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player 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 claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer 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 a very secure option as it eliminates the possibility of hackers gaining gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add the support of more coins in the future.
In conclusion, the Ellipal device is an brand new competitor in the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product on the market.