The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key by the network. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for 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 hardware wallets. It’s also an all-new product that’s available.