The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something potential buyers need to take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player in the hardware wallet market, promising to be completely secure because of its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product that’s available.