The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet is a tool that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR to a compromised system that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect 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 combat-tested to date. This is something potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have proven 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 that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less 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 add support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets and promises that it is 100% secure because of its complete inaccessibility to 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 supports the use of a small number of coins and its price at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product available on the market.