The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are completely safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses Your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker having an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer 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 currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new competitor in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product available on the market.