The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by 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 network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and 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 users. However, the company is currently working on adding the support of more coins in the future.
In the end it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market, promising that it is 100% secure due to its complete isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product on the market.