The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware 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 claim they are completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add the support of more coins in the future.
In the end, the Ellipal wallet has been a brand new player on the market for hardware wallets, promising to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product that’s available.