The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player in the hardware wallet market, promising to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product that’s available.