The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses Your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.