The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years, all promising 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 the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. The Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses Your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal device is an new player on the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. It’s also a relatively new product on the market.