The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly crucial. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via 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 through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an new player on the market of hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. It’s also a relatively new product available on the market.