The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information via the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player in the hardware wallet market, promising that it is 100% secure due to its complete isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product that’s available.