The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having an access point to your private keys through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s a relatively new product available on the market.