The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more essential. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are completely secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been combat-tested to date. This is something that potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an new player in the market of hardware wallets that claims that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product on the market.