The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your 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 computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par 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. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product on the market.