The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a device that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system which is infected by viruses Your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is currently working on adding the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new competitor in the market of 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 hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product that’s available.