The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim they are 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised system that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the hardware wallet market, promising to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product on the market.