The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal digital wallet tool that stores 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 company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim they are 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys via an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it has not been tested in battle yet. This is something prospective buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market, promising to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets 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, but it’s not as convenient for use like other hardware wallets. It’s also a relatively new product on the market.