The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting an access point to your private keys via the network. However, it’s important to remember that this means 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 need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount 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 support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% safe due to its total separation from any network or computer. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product on the market.