The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key via the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not tested in battle yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets. It’s also a relatively new product available on the market.