The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet is a new player on the market of hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product on the market.