The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, each claims that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient for use like other hardware wallets. It’s also an all-new product available on the market.