The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a device which keeps the private keys 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 young player in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the future.
In the end, the Ellipal wallet has been a new player in the market for hardware wallets and promises to be completely secure because of its complete separation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product available on the market.