The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand 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 is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses Your private keys remain safe and secure.
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 connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to 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 only a few coins and its price of $149 is in line with the other options. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product available on the market.