The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes more important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised system that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it has not been tested in battle yet. This is something potential buyers need to be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time 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 only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add the support of more coins in the near future.
In conclusion, the Ellipal device is an new player in the hardware wallet market that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product that’s available.