The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product available on the market.