The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the 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 support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.