The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes more essential. The Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys are still protected and safe.
Its Ellipal wallet is unique 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 through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t 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 new to the market, which means that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims to be completely secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.