The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of 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, but it’s important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys by the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the future.
In conclusion it is clear that the Ellipal device is an brand new competitor in the hardware wallet market that claims that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.