The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. 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 via QR codes using a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information through the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal device is an new player on the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets. It’s also an extremely new product that’s available.