The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys will remain protected and safe.
Its 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 transmits QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets that claims to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product on the market.