The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and online reviews state they are completely safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using an image camera at 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 via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh player in the market for hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product available on the market.