The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something potential buyers need to be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the near future.
In the end, the Ellipal wallet has been a new player in the market of hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets, and it’s an extremely new product on the market.