The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain safe and secure.
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 connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers getting access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as 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 coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as 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 buyers. However, the company is currently working on adding support for more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other hardware wallets, and it’s an all-new product available on the market.