The cryptocurrency market has seen 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. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is currently working on adding the support of more coins in the near future.
In the end, the Ellipal wallet is a brand new competitor in the hardware wallet market, promising to be completely secure due to its complete separation from any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with other wallets. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets. It’s also a relatively new product on the market.