The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out 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 device that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to add more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product available on the market.