The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information through the network. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the hardware wallet market that claims to be completely secure because of its complete separation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product available on the market.