The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR on a compromised device that has been infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not combat-tested to date. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be completely 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 battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options 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 easy to use as other hardware wallets. Additionally, it’s a relatively new product on the market.