The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised system that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting gain access to private information via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t battle-tested yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market, promising to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product available on the market.