The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, 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 the hardware wallet as completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique 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 through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an new player on the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets, and it’s a relatively new product on the market.