The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, each promises 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 unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in 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 reviews online claim they are 100% safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer which is infected by viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something that potential buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market that claims to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product on the market.