The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting an access point to your private keys through the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. 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 in line with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product available on the market.