The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes increasingly important. The Ellipal wallet is a device that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based 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 isn’t combat-tested to date. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product that’s available.