The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets. It’s also an all-new product on the market.