The cryptocurrency market has seen a significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not tested in battle yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion, it is clear that the Ellipal device is an new player on the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other 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 a safe option with a unique design but it’s not as convenient in use as the other hardware wallets. It’s also an all-new product on the market.