The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes increasingly crucial. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key via a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new player in the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product available on the market.