The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on 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 online reviews state the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using cameras on its back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets, and it’s an extremely new product available on the market.