The world of cryptocurrency has seen an significant increase in the number of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal digital wallet device that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young 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 that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as 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 on a compromised device that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker having an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the future.
In conclusion, the Ellipal wallet has been a new player on the hardware wallet market that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product that’s available.