The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market of hardware wallets, promising to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with other wallets. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other 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 easy in use as the other wallets. Additionally, it’s an all-new product available on the market.