The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other wallets. It’s also an all-new product that’s available.