The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys by the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets that claims to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product available on the market.