The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes increasingly important. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key via an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly 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 new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have established track records 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 that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets, promising 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 tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product that’s available.