The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised device which is infected by viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding more support for coins in the future.
In the end, the Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient for use like other wallets. It’s also an extremely new product that’s available.