The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes more essential. It is the Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are completely secure, but it’s important to note that the 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 example, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses Your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an all-new product on the market.