The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting an access point to your private keys by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something potential buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry 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 fresh player in the hardware wallet market, promising to be completely safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the 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 history and security features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product that’s available.