The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, 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 important. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include 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 users. But, the company is currently working on adding support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market of hardware wallets that claims to be 100% safe due to its total isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets, and it’s a relatively new product that’s available.