The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the back of the. 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 isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s an extremely new product on the market.