The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it has not been tested in battle yet. This is something potential buyers should take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide more support for coins in the near future.
In the end, it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets, promising to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively 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 the price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product available on the market.