The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive 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 via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an new player on the hardware wallet market, promising that it is 100% safe due to its total isolation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product on the market.