The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival firms like 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 safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.