The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t tested in battle yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh competitor in the hardware wallet market, promising to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively 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 of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product available on the market.