The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival businesses 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, you connect your TREZOR with a compromised device which is infected by viruses your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t battle-tested yet. This is something that potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support 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 fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the future.
In conclusion, the Ellipal wallet is a fresh player on the market for hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product available on the market.