The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys via 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, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding more support for coins in the near future.
In the end, the Ellipal device is an brand new player on the hardware wallet market and promises to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with other wallets. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.