The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state they are 100% safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers getting an access point to your private keys through an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a fresh competitor in the hardware wallet market, promising to be completely secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets, and it’s an all-new product available on the market.