The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses Your private keys will 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 that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been combat-tested to date. This is something potential buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with its competitors. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product that’s available.