The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets and promises that it is 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product that’s available.