The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are 100% safe, however it is important to remember that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been battle-tested yet. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were in business for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market of hardware wallets that claims to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with other wallets. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before 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 very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product that’s available.