The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim they are completely secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses Your private keys remain protected and safe.
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 connections. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of hackers having access to the private key through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
In terms of coin support, 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 supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market and promises to be completely safe due to its total separation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other wallets, and it’s an all-new product available on the market.