The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market for hardware wallets and promises to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product on the market.