The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR on a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having access to the private key by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer 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 a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with 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. The company is working to provide the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets, promising to be completely safe due to its total isolation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product that’s available.