The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are completely secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised system that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets and promises that it is 100% secure due to its complete separation from any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product on the market.