The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed 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 has been infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired 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 through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets, promising that it is 100% secure because of its complete separation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an extremely new product on the market.