The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer 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, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new player in the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.