The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes more essential. The Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely safe, however it is important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses, your private keys will remain protected and safe.
The 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 via QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something prospective buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a brand new player on the market of hardware wallets, promising to be 100% secure due to its complete separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is in line 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 wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product available on the market.