The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet is a gadget which keeps the private keys to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised device which is infected by viruses, your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business 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 that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.