The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not battle-tested yet. This is something prospective buyers must take into consideration when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a brand new player in the market for hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product that’s available.