The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means 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. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets that claims to be completely secure due to its complete separation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a fully exclusive hardware wallet is appealing 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 wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.