The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that has been infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key by an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not combat-tested to date. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets. It’s also an extremely new product on the market.