The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet is a gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. 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 a hacker getting an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal wallet is a fresh competitor in the market of hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product that’s available.