The cryptocurrency market has seen an significant rise in the number of hardware wallets on the market in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly crucial. The Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around 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 a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets and promises 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 battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with its competitors. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product available on the market.