The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet tool that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state they are 100% secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers getting access to the private key by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t battle-tested yet. This is something potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets, and it’s a relatively new product on the market.