The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more important. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal the company that developed 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 company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.