The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been battle-tested yet. This is something prospective buyers need to take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the 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 more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is 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 tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product on the market.