The cryptocurrency market has seen an significant increase in the amount 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 new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal wallet is a tool that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as 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 might be a worry for some customers. But, the company is currently working on adding more support for 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 hardware wallet market, promising to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.