The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end, the Ellipal device is an brand new competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product available on the market.