The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that is infected with viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include 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 users. The company is working to add support for more coins in the future.
In the end, the Ellipal wallet has been a new player in the market of hardware wallets, promising to be 100% secure due to its complete 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 is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product available on the market.