The world of cryptocurrency has seen a significant rise in the number of hardware wallets on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information by the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it has not been battle-tested yet. This is something potential buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have 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 currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market for hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with the other options. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product that’s available.