The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. Its 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 becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly crucial. It is the Ellipal digital wallet tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer 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, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a very safe option since it blocks 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 isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include 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 could be a problem for some customers. The company is currently working on adding more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an all-new product available on the market.