The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet 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 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 the end, the Ellipal wallet has been a fresh player in the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an all-new product available on the market.