The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet device that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. 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 connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. While 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. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product available on the market.