The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via the network. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide the support of more coins in the future.
In the end In conclusion, the Ellipal wallet is a fresh player on the market for hardware wallets, promising to be completely secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product that’s available.