The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
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 as well as online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key through a network connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security 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 with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product that’s available.