The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a an established track record of security.
Regarding support for coins 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, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market and promises to be completely secure due to its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an all-new product available on the market.