The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, each promising to keep digital assets secure and safe. The 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, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if you connect your TREZOR on a compromised device that has been infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t combat-tested to date. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a new player on the hardware wallet market and promises to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an all-new product on the market.