The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique 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 cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key through the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims 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 battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product on the market.