The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR on a compromised system 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 unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys by a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not combat-tested to date. This is something prospective buyers should take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player on the market for hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.