The world of cryptocurrency has seen a significant rise in the number of hardware wallets 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 competitor in the field, and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal digital wallet device that stores the private key to digital assets off-line to prevent hackers from taking them 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 finance the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an all-new product on the market.