The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t combat-tested to date. This is something potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the future.
In conclusion, it is clear that the Ellipal device is an brand new competitor in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets prior to 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 that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an extremely new product available on the market.