The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked 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 tested in battle yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player on the market of hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product that’s available.