The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys by the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a decision. 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 a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product available on the market.