The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to 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 from rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses Your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key via the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets, and it’s an all-new product available on the market.