The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not tested in battle yet. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited 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 may be a concern for some buyers. The company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.