The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, each promising 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 its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more important. The Ellipal wallet is a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR on a compromised system which is infected by viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key through a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a brand new player on the market of hardware wallets, promising to be completely secure due to its complete separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a completely 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 the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also a relatively new product on the market.