The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes more essential. The Ellipal digital wallet 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 wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining access to the private key through 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, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something potential buyers must take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets and promises to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product on the market.