The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet is a tool that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player in the market of hardware wallets that claims to be completely safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets, and it’s an extremely new product available on the market.