The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets, promising to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient in use as the other wallets. It’s also a relatively new product available on the market.