The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised system that is infected with viruses Your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t battle-tested yet. This is something potential buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including 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 buyers. The company is working to provide the support of more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the market of hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although 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. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product that’s available.