The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key by a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.