The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through 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 gain access to private information via the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it has not been tested in battle yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new player on the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets, and it’s an extremely new product available on the market.