The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique 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 via QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information via a network connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly 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, which means that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the hardware wallet market, promising to be completely safe due to its total separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets. It’s also an extremely new product available on the market.