The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add support for more coins in the future.
In the end it is clear that it is clear that the Ellipal device is an brand new competitor in the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an extremely new product available on the market.