The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all 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 the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that is infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a new player on the hardware wallet market and promises to be 100% secure due to its complete isolation from any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for 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 hardware wallets. It’s also a relatively new product that’s available.