The cryptocurrency market has seen a significant increase in the number of hardware wallets in recent years, all promises 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 rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys will 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 that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key through the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal wallet is a new player on the market for hardware wallets, promising to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product available on the market.