The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are completely secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a new player on the market of hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Its creators are relatively 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 separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.