The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly essential. The Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised device that has been infected with viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys via the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh competitor in the market of hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any network or computer. 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 tag at $149 is comparable with its competitors. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets, and it’s an extremely new product on the market.