The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised system 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 isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having 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 like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal device is an brand new player on the hardware wallet market that claims to be 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s an extremely new product on the market.