The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses Your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through the network. It’s important to note 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 is priced at $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a brand new player on the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient for use like other wallets. It’s also an extremely new product on the market.