The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets and promises to be 100% secure because of its complete separation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product on the market.