The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers gaining access to the private key by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not battle-tested yet. This is something potential buyers should take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market and promises to be 100% secure due to its complete isolation 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 of $149 is on par with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product that’s available.