The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, 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 company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys remain protected and safe.
Its 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 connections. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern 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 it is clear that the Ellipal device is an brand new player on the market of hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested 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 totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets, and it’s an all-new product that’s available.