The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system which is infected by viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information by a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the near future.
In the end, the Ellipal device is an new competitor in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product on the market.