The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys remotely.
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 as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add support for more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets, promising to be completely secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product on the market.