The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited 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 might be a worry for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product that’s available.