The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised device that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a an established 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 a limited number of coins which include 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. The company is currently working on adding more support for coins in the near future.
In the end, the Ellipal wallet is a fresh competitor in the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with its competitors. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient in use as the other hardware wallets. It’s also an extremely new product on the market.