The cryptocurrency market has witnessed 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 competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information by the network. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the near future.
In the end, the Ellipal wallet has been a fresh player on the market for hardware wallets and promises to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with its competitors. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.