The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via 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 an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not combat-tested to date. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add more support for coins in the near future.
In the end, it is clear that the Ellipal wallet has been a brand new competitor in the market of hardware wallets, promising to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product on the market.