The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be 100% safe due to its total isolation from any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets, and it’s an extremely new product on the market.