The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years. Each claims to keep digital assets 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 is becoming more widespread, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are completely secure, but it’s important to remember that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses Your private keys remain 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 wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding the support of more coins in the future.
In the end, it is clear that the Ellipal device is an brand new player in the market for hardware wallets and promises to be completely safe due to its total separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features 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 safe option that has a modern design however, it’s not as easy to use as other wallets, and it’s a relatively new product on the market.