The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys 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 connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth 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 in use as the other hardware wallets, and it’s an extremely new product available on the market.