The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled 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 digital wallet device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR on a compromised system which is infected by viruses your private keys remain protected and safe.
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 a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information via a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been tested in battle yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been in business 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 the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market for hardware wallets, promising to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s new, and the product has not 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 its competitors. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other wallets, and it’s a relatively new product on the market.