The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers must keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide support for more coins in the future.
In conclusion it is clear that the Ellipal wallet is a fresh player in the market for hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient in use as the other wallets. It’s also an all-new product that’s available.