The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim they are completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised computer that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the back of the. 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 worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven 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 that are supported, such as 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. But, the company is working to provide support for more coins in the future.
In conclusion, it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets. It’s also an all-new product available on the market.