The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR with a compromised device which is infected by viruses, your private keys remain secure and safe.
The 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 via a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of 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 support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the market of hardware wallets, promising that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product that’s available.