The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it has not been battle-tested yet. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as 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 buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that the Ellipal device is an fresh player on the market of hardware wallets that claims to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets, and it’s an all-new product that’s available.