The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking them 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 the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have 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 is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add more support for coins in the future.
In conclusion, the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par 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 measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product that’s available.