The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, 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 users. But, the company is working to provide more support for coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market of hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with the other options. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product available on the market.