The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if you connect your TREZOR on a compromised device 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 isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers gaining an access point to your private keys via a network connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something that potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets, and it’s an all-new product on the market.