The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys via a network connection. However, it’s important to remember 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 relatively recent to market which implies that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a new player on the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product on the market.