The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been 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 is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new player in the hardware wallet market and promises that it is 100% secure due to its complete separation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. 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. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets, and it’s a relatively new product that’s available.