The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each claims that digital assets will be secure and safe. The 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 becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product that’s available.