The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget 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 wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have an established 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 which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player in the market of hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets before making a choice. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.