The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised device which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player in the market for hardware wallets that claims to be 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 currently supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product on the market.