The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining access to the private key through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% 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 supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product that’s available.