The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component 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 website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR on 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 unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key by the network. It’s important to note that this means the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a 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 is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures 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 person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product that’s available.