The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer which is infected by viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player on the hardware wallet market that claims to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. It’s also an all-new product available on the market.