The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker having access to the private key by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been tested in battle yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new player on the hardware wallet market that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.