The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised device which is infected by viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh competitor in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product on the market.