The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide support for more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market for hardware wallets that claims to be completely 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 the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets. It’s also a relatively new product on the market.