The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting an access point to your private keys by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an fresh player on the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to 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 only a few coins and its price of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets. It’s also a relatively new product that’s available.