The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet is a device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal device is an brand new player in the market for hardware wallets that claims to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s 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 its price tag at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. 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 to use as other wallets. It’s also an all-new product that’s available.