The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes more important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with its competitors. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets. It’s also a relatively new product that’s available.