The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly essential. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been battle-tested yet. This is something prospective buyers should be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record 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 price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets, and it’s an all-new product available on the market.