The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised device that has been 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 isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not battle-tested yet. This is something potential buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have an established 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, including Bitcoin, Ethereum, Litecoin, along with 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. However, the company is currently working on adding support for more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a brand new player on the market of hardware wallets that claims to be completely safe due to its total inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product available on the market.