The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly 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 new to the market, which means that it isn’t combat-tested to date. This is something prospective buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets, promising to be 100% secure because of its complete separation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. While 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 choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an extremely new product available on the market.