The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is unique 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 using a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys by an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new competitor in the hardware wallet market that claims that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.