The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer 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 provide support for more coins in the near future.
In the end it is clear that the Ellipal wallet has been a new player in the hardware wallet market that claims to be completely safe due to its total isolation from any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product that’s available.