The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information via a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a new player on the hardware wallet market and promises to be completely secure because of its complete isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets, and it’s a relatively new product on the market.