The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet is a device that stores the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers 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 user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a new player in the market for hardware wallets that claims to be 100% safe due to its total separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.