The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. It is the Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the hardware wallet market that claims to be 100% safe due to its total isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a choice. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an all-new product available on the market.