The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key by the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the future.
In the end, the Ellipal device is an new competitor in the market of hardware wallets and promises to be 100% secure because of its complete separation 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 supports the use of a small number of coins and the price of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product on the market.