The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes increasingly important. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new 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 reviews online claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to 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 are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market and promises to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with 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 exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an all-new product that’s available.