The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim they are completely safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of hackers gaining access to the private key by a network connection. However, it’s worth noting that this means the Ellipal wallet is not as 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 fairly recent to market meaning that it has not been combat-tested to date. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market for hardware wallets and promises to be 100% safe due to its total isolation from any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product on the market.