The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes more essential. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers having 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 convenient to use 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’s not combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets, and it’s an all-new product on the market.