The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets indefinitely 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. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to remember 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. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t combat-tested to date. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market of hardware wallets and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other wallets. It’s also an extremely new product available on the market.