The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly 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 relatively new to the market, which means that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh player in the hardware wallet market, promising that it is 100% secure due to its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also an all-new product that’s available.