The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets safe and secure. The 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 and more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim they are completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information via the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the 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 could be a problem for some users. However, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the hardware wallet market that claims to be completely secure due to its complete separation from any network or computer. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets. Additionally, it’s a relatively new product on the market.