The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR on a compromised device that has been 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 computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys by a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market, promising to be 100% safe due to its total separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.