The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. 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 transmits QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key via a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets that claims to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product on the market.