The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets is becoming increasingly crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR with a compromised device which is infected by viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an brand new player on the market of hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.