The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly essential. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised device that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also a relatively new product that’s available.