The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the market of hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. 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 wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product on the market.