The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more crucial. The Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys by the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven 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 a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the future.
In conclusion, the Ellipal device is an new competitor in the hardware wallet market that claims to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product that’s available.