The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years. Each promising that digital assets will be safe and secure. 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 entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add the support of more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.