The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers having access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been tested in battle yet. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets and promises to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product available on the market.