The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been combat-tested to date. This is something potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s a relatively new product on the market.