The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network 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 safe option since it blocks the possibility of a hacker getting an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use 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 new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet 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 coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets that claims to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an all-new product that’s available.