The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers should take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an extremely new product on the market.