The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a device that stores the private key to digital assets off-line and prevents 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 the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique 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 using cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide support for more coins in the near future.
In conclusion, the Ellipal wallet is a new competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other wallets. It’s also an extremely new product that’s available.