The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly important. It is the Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other wallets. It’s also an all-new product on the market.