The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market that claims to be completely safe due to its total isolation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative 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.